Question regard selling points

[BillM]

We are planning on selling some add-on contracts that we don't need anymore. After paying the commision and transfer fee it looks like we will have a loss compared to what we paid. Is this loss deductible on Federal Income tax ? I would think so since this is deeded real estate property. Any advice is appreciated.

 

[paslea_pooh]

What if you were to sell it on your own and just have the buyer pay the transfer fees?
That way you might not take as big of a loss or maybe even make a profit. Also have you considered renting it out and selling it down the road a bit and possibly breaking even then or making a profit? Not sure if any of this is possible, I'm fairly new to this.

Good Luck to you
Alida

 

[mydogdrew]

We are planning on selling some add-on contracts that we don't need anymore. After paying the commision and transfer fee it looks like we will have a loss compared to what we paid. Is this loss deductible on Federal Income tax ? I would think so since this is deeded real estate property. Any advice is appreciated.

Generally not deductible. Have you been renting your points and filing schedule E? Even so, it still might not be deductible. I assume you have been using personally. If so, personal loss is not deductible. Of course, if you sold for a profit, you would have to report the capital gain.

 

[CarolMN]

We are planning on selling ...(snip).... Is this loss deductible on Federal Income tax ? I would think so since this is deeded real estate property......

DVC contracts are deeded interests in a lease. That is different from real estate property. If it were me, I'd consult a quallfied tax advisor.

Best wishes -