I have 2 timeshares that I am interested in selling in Mexico. What, if any, are the tax implications of those sales and am I able to deduct maintenance fees associated with those timeshares?
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1 Replies
John-H2021
Employee Tax Expert
Oct 25, 2023 10:49:33 AM
Hello
A time share is considered a personal asset and the sale is reported on a schedule D. If there is a gain it will be taxed at the capital gains rate if there is a loss the IRS doesn't allow you to deduct it.