I bought a timeshare five years ago for $17,000. I sold it last year for $8,000. May I write the loss of $9,000 off my taxes entirely or do I have to take the loss in increments?
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I bought a timeshare five years ago for $17,000. I sold it last year for $8,000. May I write the loss of $9,000 off my taxes entirely or do I have to take the loss in increments?
Timeshares are usually bought for
Holidays.
This sounds like a personal expense for private purposes.
On this assumption the loss cannot be written off your taxes at all.
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