Solved
Exited Wyndham Timeshare
I deeded back my timeshare early last year and the account was cancelled. I was given $2100 for the transition (not sale) which varies based on inventory. Why am I getting a 1099-S?
Because Wyndham booked it as a sale.
Enter it into TurboTax as a sale of the property listed on the 1099-S. Enter your basis as what you paid for it initially and the initial purchase date and closing costs where it tells you to enter them.
However, the number can not be negative if this time share was for you and your family's personal use. So make sure that all the costs you enter don't add up to more than the $2100 you received.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
