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Best answer by RobertB4444

The amount that you paid for the timeshare is the actual cash that left your bank account.  In your case the price was reduced by $500 for a credit so you paid $6000.  That is the amount that you need to use for the purchase price.

 

@4831 

2 replies

D
DianeW777
February 17, 2025

We'd love to help you complete your tax return, but need more information. Can you please clarify your question?

  1. Are you selling your timeshare?
  2. Are you renting your timeshare?
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4
4831Author
February 17, 2025

I’m sorry I don’t know how this posted blank.  My question is I sold a timeshare this year.  When we purchased the timeshare, we were given a developers credit.  The price of the timeshare was $6500, and we got a developer credit of $500.  So do I put the purchase price at the $6500 or do I need to put  $6000 to take off the developer credit?

R
RobertB4444Answer
February 17, 2025

The amount that you paid for the timeshare is the actual cash that left your bank account.  In your case the price was reduced by $500 for a credit so you paid $6000.  That is the amount that you need to use for the purchase price.

 

@4831 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
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