Our timeshare is on a per point basis. We do not own at a specific location. What should I use as an address on Sch E? We get a 1099 from the rental company we use.

[mamzepeda]

We own within a US collections so we don't own at only one property. We are renting points out and getting a 1099 from the company we use.

[IsabellaG · Accepted solution]

Use "Timeshare" +the address of the company that you use to handle your timeshare. You will be indicating that the rental is a timeshare, and the address is for identification purposes. 

[Edit 03/19/18 3:10 PM]

[mamzepeda]

Even if the company is in another state? I won’t need to set up out of state for tax reasons? Will there be a place in TT where I indicate it as a timeshare or is that in the description?  Thanks!

[IsabellaG]

I'm going to slightly amend my answer. For the address, Enter "Timeshare" then the company's address. The Schedule E is only going to show as "Property 1" etc, so the "Timeshare" will show as part of the address. The worksheets for Schedule E will show "Timeshare" under the description of the property, which you enter yourself. You won't have to file a state return for the address on the 1099 if you didn't have income from that state. You control which state tax returns you file based on your situation.

[mamzepeda]

Great! Thank you!

[IsabellaG]

You're welcome!

[cgbrunner]

because my timeshare is just points, do i have to file state returns if i use my timeshare points resellers address?  I do not have a deeded property.  Can I also deduct the maintenance fees>

  Thanks very much