Manhattan Club Lawsuit

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Re: Re: Manhattan Club Lawsuit (by Dks):

scottv165 wrote:
Just wondering if I bought my timeshare week originally for $28,000 and receive the $100 for the property buyback since it is a property in NYC can I take a $27,100 loss on my taxes for the 2020 tax year

I was able to BUT you have to get it appraised. That costs money. In 2014, I had both of mine appraised, for reasons of inheritance, cost me a few thousand dollars. They were appraised at 20 and 30 thousand respectively, even though we knew they were worth nothing. But since I had a valid appraisals, , I was able to declare the loss..