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kdglade
New Member

We have sold multiple timeshares during 2016, taking a loss on all of them. How do we get a deduction for our losses?

 
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RichardG
New Member

We have sold multiple timeshares during 2016, taking a loss on all of them. How do we get a deduction for our losses?

If these timeshares are for personal use, the losses cannot be deducted.

If you were renting out your timeshares for profit, and depreciating your interests, you can claim a loss to the extent the net sale proceeds are less than your adjusted basis.

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1 Reply
RichardG
New Member

We have sold multiple timeshares during 2016, taking a loss on all of them. How do we get a deduction for our losses?

If these timeshares are for personal use, the losses cannot be deducted.

If you were renting out your timeshares for profit, and depreciating your interests, you can claim a loss to the extent the net sale proceeds are less than your adjusted basis.

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