We have a one week time share we were unable to use this year - the management company rented it out for us. Do I claim this income?

[AmyC]

Yes, all worldwide income is reported. Depending on the amount of income, you may be receiving a tax form from the company in the next few weeks. You may want to wait or verify before filing.

Without a tax form, you can enter this as miscellaneous income. Follow these steps to enter the income:

1. go to the federal income section
2. scroll to the bottom
3. Miscellaneous Income, 1099-A, 1099-C, Start
4. Scroll to the bottom
5. Other reportable income, Start
6. Other taxable income?
7. Select YES
8. Description  - whatever you want to say, timeshare rental
9. Amount, enter your amount of income
10. Continue