People paying full retail price for a timeshare rarely make a profit.
Sorry. As is the case with a home, car, or boat, timeshares are nearly always treated by the IRS as a personal asset, says Gil Charney, tax research analyst at H&R Block. Thus, losses aren't deductible.
On the other hand, had you sold your timeshare at a profit, the IRS would take a much greater interest in the deal: You'd be taxed on the gain.
People paying full retail price, however, rarely profit, since prices typically drop on the resale market.
Buyers can find better values there, says Lisa Ann Schreier, author of Timeshare Vacations for Dummies.
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|30 yr fixed||4.28%||4.37%|
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