Can I Deduct My Timeshare As A Loss On My Taxes?

 Mar, 27 - 2016   no comments   Buy Timeshare Resale

income taxAs April 15, 2016 approaches, I am starting to get this perennial question again:

“Can I Deduct My Timeshare As A Loss On My Taxes?”

First of all you must know that I am not a tax advisor, or an attorney. You may need to retain an attorney or hire a tax accountant to resolve this question at some point.

However, as a rule, the answer is no: You are not generally able to deduct any losses on a timeshare purchase or resale.

irsOver the years this question has been tested with the IRS in a number of ways and they (the feds) always consider a timeshare to be a depreciating luxury item that does not have prospects of growing in value. In other words, consider the value of an automobile when you first buy it. If you were to sell it the next month you’d not get what you paid for it. You would get less. That loss is not deductible for tax reasons.

And so goes for timeshares.

You may have paid $20,000 or more for your timeshare, and sold it for far less. The difference is a loss but it is not a loss that the IRS will allow a deduction for.

If you need more info on this or any legal or tax questions call an attorney or tax accountant.

It just might save you some aggravation.

Sponsor Information: is the leader in the Vacation Resale Brokerage Business and innovators of timeshare resale services for individual consumers and software for resale agents. Since 1979 (over 38 years) we have had original management. All of our Timeshare Agents are Resale Specialists and members of NAR, the National Association of REALTORS®.

We pioneered the first timeshare resale broker website on the Internet in 1995. We advertise on many more.

People wanting to sell and get rid of a timeshare benefit from the professionalism of a licensed timeshare resale broker who stay on top of the ever changing technology as well as industry direction. We work with all buyers for the vacation properties registered in our database. We have a team of REALTORS® and personnel who are forever assisting the buyers, sellers and insure that the time share sale transaction is as smooth and easy as possible. Call today to get rid of the timeshare albatross!  Call us at 1-800-247-4392

Experience: We have sold and closed timeshares in over 29 countries, in 47 states in the USA, have closed deals with sellers and buyers from over 89 countries. We have helped thousands of owners get out of an their unwanted unit.  We have a program that gets you out of your property without waiting for a buyer too.  This stops the fee payment burden right away.

We offer all our expertise to you!

What are you waiting for, Call us from the USA or Canada at 1-800-247-4392 or Internationally 1-936-588-4884.

Our offices are at 14500 Hwy 105, Conroe, Texas 77304.

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