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Old 03-27-2005, 04:30 PM   #1
CHIV
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Are time share default losses deductable?
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My daughter, at one of her weaker moments bought a time share. She was lucky enough to rethink it fast enough that she stopped the process before they closed. What this meant is that she lost her initial investment but was out of the deal without credit ramifications. My question is this; Having invested in this property and losing her initial investment, can she take this as a short term capital loss? Is this not like purchasing an option an allowing it to expire?
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