Question for those members that have sold their points

[Dennis the WDW Menace]

When you sell your points do you have to pay any other taxes on the sale other than filing fees, ect. Is it like selling you home if you have not lived in it more than 3 out of the past 5 year rule.

 

[Dennis the WDW Menace]

BUMP

 

[Werner Weiss]

My guess is that the members who have sold their points are very unlikely to participate in this DVC discussion board any more.

 

[Dean]

Search the board for Lisa P., she is a former DVC member that still participates. I suspect no one declares any profit regardless of the IRS rules on this subject. I'm not certain what the rules would be but doube enough profit could be made to worry about it.

 

[Lisa P.]

Hi Dean! "Dennis," we sold our DVC points in 1999. The following January, we were sent a Form 1099-S from the title agency that had handled the closing (then called Sunbelt Title in Orlando). It listed the sales price. On Schedule D (Capital Gains & Losses) Part II (Assets Held More Than One Year) with our Federal 1040, we listed both the purchase cost/basis & the sales price, with the net gain or loss. I don't know whether it would be the same under current tax law. But I'd agree that we're probably talking pretty modest amounts, generally.

FWIW, we enjoyed a couple very nice DVC vacations for the price of maint fees, since our Net Loss was a whopping $11.00.
Lisa P.