I'd like to ask a question related to timeshare taxes. Do we have to pay taxes on our timeshares? I heard somewhere that any profit I make from selling/renting my timeshare is taxable but any loss I suffer is not deductible? Is it true? Could someone explain this clearly?

Great question and a common one. Here's a link to some tax information that applies when selling timeshares:

http://timeshareadventures.com/vacat...share/1352.htm

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This is one of the most commonly asked questions about timeshare. Let me try to explain a little.

Any profit you make on your timeshare sale is considered a capital gain, so you are supposed to pay taxes on that. On the other hand, losses are not tax deductible.

However, if you never use your timeshare for your personal use and rent it out constantly to others, it's an exception. In that case, if you sell your timeshare at a loss, the losses are tax deductible.

If the property taxes are billed separately, they are are deductible. If they're shown as a part of your MF, they are not deductible.

The interest charges on timeshare loans are tax deductible.

In case you need further assistance, you could get in touch with a chartered accountant.