Sold timeshare in 2021 for a loss

[DaveM22]

I sold a timeshare in 2021 for a loss.  I received a 1099-S for this sale.  I entered to appropriate data into TurboTax Deluxe under Investment Income - Stocks, Mutual Funds, Bonds, Other.  At the end of the process, I discovered that TurboTax had filled out Form 8949 incorrectly and was treating the loss as deductible.  In my case, the loss is *not* deductible.  How can I fix this problem?

[Rainman12 · Accepted solution]

Report as sale of a personal residence. Such losses are not deductible, will be recorded as such on 8949/Sched D.

[DaveM22]

Thank you for the quick reply.

By "report as sale of a personal residence" are you pointing me to "Less Common Income - Sale of Home (gain or loss)?  This topic seems to be focused on the "Sale of Your Main Home".

[Rainman12]

Yes, but subordinate to focus. Do NOT affirm 'Main Home' in response to any questions; that transaction has special tax treatment. Any other home (second, vacation, etc) is treated as 'personal property', and losses on such sales are never deductible. Entering the 1099-S amount as a sale of personal property will achieve the correct result.

[Mike9241]

use cost = to selling price

or

use code L for adjustment code and enter the loss as the adjustment amount (as a positive number)