Selling my timeshare

I've done a basic research on this topic. here's the facts: 1) bought in year 2000 for approx. 30,000 2) last used 2013 3) rented out all or a portion from 2014 - 2019 - 6 years 4)selling for approx. 16,000 with first occupancy 2020 - closing will be in July or August 2018.

Question - tax deductible loss or no? What I've read is that IF you rented it out consistently (?) it may be a deduction.

Is the last 5 years plus 2019 enough of a timeframe to get by the IRS?

I would respectfully suggest getting an informed answer directly from a qualified CPA or tax attorney, rather than relying upon the speculative input or guesswork of unknown people on a Internet discussion forum.

My question is, are you renting it out to gain a profit, or you just don't know what else to do with it? Why aren't you using it?

I am a former timeshare sales and marketing executive who would always tell new owners, NEVER buy it to make money. It is not an investment, but for vacations.

Just because someone is a "qualified CPA, doesn't indicate that you cannot obtain this information on your own.

Now, if you have a buyer for $16,000 sell the damn thing. If the resort is selling it for $16,000, it is only worth a fraction of that price on the resale market. Surprisingly, there are people selling on the resale market who are trying to compete with the resort prices. Hmmm.

Best of luck!

We stopped skiing 4 years ago...Used it every year from 2001 - 2013...have rented it since then via ads on this website or TUG. Rents were covering maintenance for this and another timeshare I own...so a win/win.

In any event, my ski timeshare is now sold for a figure as stated in my original post.

Ski weeks are always best sellers...