dkh
Level 15

Here is one answer I found when I Googled " how to report sale of timeshare on tax return"..... 

Is loss on sale of timeshare tax deductible?
Because the IRS classifies a timeshare as a personal use property, when you sell it at a loss you cannot deduct the loss. However, if you sell it for a profit, you have to report the profit. In fact, you will receive a 1099 form that reports your sale proceeds to you and to the IRS.
 
of course, I'd do some more research at irs.gov rather than take that as gospel