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tdhynes
New Member

Do we have to pay taxes on a time share sale if the amount received on the 1009-S is less than the original purchase price?

 
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Bsch4477
Level 15

Do we have to pay taxes on a time share sale if the amount received on the 1009-S is less than the original purchase price?

You will not owe any tax but you will have to report the sale since you received a 1099-S.

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3 Replies
tdhynes
New Member

Do we have to pay taxes on a time share sale if the amount received on the 1009-S is less than the original purchase price?

On what form does this need to be filed on?
Bsch4477
Level 15

Do we have to pay taxes on a time share sale if the amount received on the 1009-S is less than the original purchase price?

Bsch4477
Level 15

Do we have to pay taxes on a time share sale if the amount received on the 1009-S is less than the original purchase price?

You will not owe any tax but you will have to report the sale since you received a 1099-S.

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