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    #1

    Sale of Timeshare

    I am having a brain fart....

    I have a 1099S that I need to negotiate in and out, as no loss is allowed.

    Do I wash that straight on the Sch D? Long-term, same cost and selling value?

    It is personal, not business property, so I don't think a 4797 is called for.

    I have looked online and in TTB, and at theh 1099S which suggested to me that the straight Sch D data entry might be the way to go..

    Thanks... Can't wait for Sunday when I get on a plane to Texas to see my MOMMA! Lawd! I want my Momma!
    "I am proud to pay taxes in the United States. The only thing is I could be just as proud for half the money." Arthur Godfrey
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    #2
    That's the way I do 'em.

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      #3
      Good 'nuf!

      Originally posted by Burke View Post
      That's the way I do 'em.
      Then that's good 'nuf for me!
      "I am proud to pay taxes in the United States. The only thing is I could be just as proud for half the money." Arthur Godfrey

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      This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

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