Ok, we had on our balance sheet as an asset a timeshare. The purchase\nprice was ,000. In June of last year, the account was\n"cancelled". Effectively, the timeshare was cancelled and we lost our\ninvestment in it. The creditor, I was told, wrote off the balance,\nwhich was about ,000.\n\nIt was never depreciated because it was dealt with like real property.\n\nI am trying to figure out how to remove this from my books. Do I just\ndebt Loss on Investment Property or some such account for the ,000\ndifference between the book value and the principal balance?\n\nThanks.