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Home > Money & Services > Taxes   »   Lose on a timeshare resale

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Old Nov 28, 2006, 12:56 PM
cgreentreesr
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Lose on a timeshare resale
We will be selling an unused timeshare back to the seller at a lose ( we owned it for 5 years). Can we claim the lose?

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Old Nov 28, 2006, 04:15 PM   #2  
AtlantaTaxExpert
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No. Timeshare is considered a personal residence, and you can NEVER claim a capital loss on a personal residence.
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Old Dec 4, 2006, 08:46 PM   #3  
PO1950
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Quote:
Originally Posted by cgreentreesr
We will be selling an unused timeshare back to the seller at a lose ( we owned it for 5 years). Can we claim the lose?
PERSONAL LOSSES ARE NOT DEDUCTIBLES
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