Solved: You can only claim the loss if this was an investm...

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I bought a timeshare in Nevada in 2009 and sold it in 2014 for less than 1/4 of the purchase price (value). How do I claim the loss?

 
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New Member

I bought a timeshare in Nevada in 2009 and sold it in 2014 for less than 1/4 of the purchase price (value). How do I claim the loss?

You can only claim the loss if this was an investment property and not for personal use. Have you reported rental income on this property? If its an investment property, you can claim it by filling out form T776 Statement of Real Estate Rentals.

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New Member

I bought a timeshare in Nevada in 2009 and sold it in 2014 for less than 1/4 of the purchase price (value). How do I claim the loss?

You can only claim the loss if this was an investment property and not for personal use. Have you reported rental income on this property? If its an investment property, you can claim it by filling out form T776 Statement of Real Estate Rentals.

View solution in original post

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