This email was sent to my client from the timeshare salesperson who told her she should claim a loss. See my earlier thread when I asked whether or not it was a loss.
I did not take the loss, as the Board said it was personal. I agree with you.
Just want you to know what I'm dealing with.
"Dear ________,
"I received your email regarding filing for a capital loss. Please know that I am not a legal tax preparer or legal tax advisor. Filing for a capital loss is determined by the "intent for use" of the timeshare.
Intent for use
Qualifier:
If you purchased your timeshare for the intent to use as an "investment" for example, rental propery, re-sale, company perk, this would qualify you for the tax credit.
Disqualifier:
If you purchased your timeshare for the intent to use for personal use or vacation, this would qualify the timeshare as a 2nd home and would disqualify you for the tax credit.
Please remember to advise your tax preparer of the intent for use appropriately.
Thank you,
__________ company"
We should ALL say that EVERYTHING we do is for the intent of "investment!" ~possi
I did not take the loss, as the Board said it was personal. I agree with you.
Just want you to know what I'm dealing with.
"Dear ________,
"I received your email regarding filing for a capital loss. Please know that I am not a legal tax preparer or legal tax advisor. Filing for a capital loss is determined by the "intent for use" of the timeshare.
Intent for use
Qualifier:
If you purchased your timeshare for the intent to use as an "investment" for example, rental propery, re-sale, company perk, this would qualify you for the tax credit.
Disqualifier:
If you purchased your timeshare for the intent to use for personal use or vacation, this would qualify the timeshare as a 2nd home and would disqualify you for the tax credit.
Please remember to advise your tax preparer of the intent for use appropriately.
Thank you,
__________ company"
We should ALL say that EVERYTHING we do is for the intent of "investment!" ~possi