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How do I donate my timeshare and what are the tax benefits?

Donating Timeshare

Sometimes sellers would actually be better off financially donating their timeshares and claiming it on their year-end taxes.

The average person spends anywhere between $800.00 and $3,000.00 trying to market their timeshare which eventually sells for $1,500.00 to $4,500.00. How about donating your timeshare? The cost to donate is usually nothing unless there is a need to request a lost deed from the county (a $25 charge) or if they have to draft an Affidavit of Death due to the deeded owner's passing ($75 fee). The closing process is around 4 to 6 weeks if there are no unforeseen circumstances. Then, as soon as they transfer the ownership of your timeshare, the charity that you have chosen will send you a receipt for your tax write-off. Your donation receipt will be determined by the fair market value of your donation.

Comments

9/1/2006 12:46:09 AM
Tracey Grimes said:

If have had trouble finding an organization who would accept my timeshare because Westgate has the right to first refusal, and the organizations been burned by Westgate before. Do you know of any organization? I have tried Donateforacause.

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