I have a timeshare in Mexico. I rented out the lock-off (part of the unit) through a rental company for 7 days. They are sending me a1099-K (not sure if it will be for the full amount of the rental, or less what they charged to rent it). In either case, am I allowed to deduct the maintenance fee for the lock-off (if I can determine what that portion is of the total maintenance fee. I used the remainder of the unit for the same week.
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Yes, you can deduct any relevant expenses that you had for the rental including any maintenance or management fees.
Do I do thatball in the Rental portion of TurboTax?
Yes. You can use the sch E to claim that you rented out part of your unit and personally used part. You can then allocate expenses between the rented portion and the personal portion.
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