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March 10, 2022
Question

I rented a timeshare week and received a 1099-misc formm from the club. Do I show a % of club ownership? Do I show 100% ownership of my week?

  • March 10, 2022
  • 2 replies
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2 replies

March 10, 2022

It depends. You should use 100% ownership since you own the timeshare period in your contract and you have complete control over it during that period. You should also select vacation rental for this type of rental.

 

You would need to claim it as income if it's rented for fewer than 14 days and you didn't use it for 15 days in addition to the days it is rented out. You would report the income and expenses in Schedule E.

 

 

 

 

 

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March 10, 2022

It depends. You should use 100% ownership since you own the timeshare period in your contract and you have complete control over it during that period. You should also select vacation rental for this type of rental.

 

You would need to claim it as income if it's rented for fewer than 14 days and you didn't use it for 15 days in addition to the days it is rented out. You would report the income and expenses in Schedule E

.

 

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"