Submitted By: Edward Answered: May 2, 2012 9:00 am
I’ve owned a time-share for 20 years, which I’ve rented out each year. I’ve never used the unit for personal purposes. If I sell the unit at a loss, can I write this off?
While no deduction is allowed on the sale of personal-use property, such as a vacation home, there is no bar to taking the loss on rental property. The fact that the rental is only a time-share does not alter this result.