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C
Ceej1976
February 7, 2024
Question

Sale of Timeshare back to managing company.

  • February 7, 2024
  • 1 reply
  • 0 views

I have entered this as it was described above.  However, as I get to my state return.  It cannot determine that this was not property in my state.  How can I best answer this?

    1 reply

    T
    ThomasM125
    February 7, 2024

    It would depend on whether you owned a deed on a  specific property located in your state, or if you just had ownership of points or similar measures that allow you to reserve rental time in various locations in other states. If you don't own any kind of deed or other documentation indicating ownership of a share of a facility located in your state, then the time share would likely not be associated with property in your state for tax purposes.  

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      C
      Ceej1976Author
      February 7, 2024

      The timeshare is located in Florida.  How do I get TT to recognize that it is not located in my home state. 

       

      T
      ThomasM125
      February 7, 2024

      Can you clarify what state you live in so we can see how this applies to your state?

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