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    mayf5's Avatar
    mayf5 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 21, 2010, 09:05 PM
    Accounting questions and answers
    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?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    Mar 27, 2010, 05:00 AM

    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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