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Facts About Donating Your Timeshare to Charity

Charities who accept generally accept a "relief fee" of thousands of dollars to take your timeshare off your hands. The charity then turns to the resale market and sells the timeshare for any additional money it can squeeze from the deal. Today's market has made this less profitable for the charites and many have stopped taking any timeshares. The ones who do now have lists of acceptable timeshares they will take. They only take the ones which they know are still selling for a decent price on the resale market, few if any!

Many of the so-called charity companies out there are scammers in disguise. They provide bogus tax deduction information to make donating sound better than it really is. In fact, there is next to nothing deductible in any such transaction. You might get into trouble with the IRS if you follow their advice.

Charities Reject Timeshare Donations?

No. Really? What a surprise! Actually a few charities do accept timeshare donations, but not the way you think. Those that do, don't actually take title from you. You continue to hold title while donating your timeshare and pay all the bills until their broker finds a buyer.

Many timeshare donation companies claim affiliations with notable charities only to later discover that the charities consider those companies a SCAM. How can you donate to a cause that does not accept timeshares as donations? The simple reason why it is difficult to donate directly to a charity is because most timeshares are worth virtually nothing. The costs to maintain a timeshare are almost always more than what the property is worth.

Many of these 3rd party “timeshare donation companies” claim to be able to save you thousands of dollars in charitable tax write-offs. There’s almost always a catch to deals like this as our timeshare donation reviews revealed. The largest timeshare donation companies charge $2,500 – $6,000 to take control of your property.

A Timeshare Deduction Will Almost Always Cause an IRS Audit

If the timeshare donation organization gives you an appraisal for your property that is worth more than the actual value, which is usually only done in cases where they promise you can claim over $5000, then you may even be charged with tax fraud. This is because the IRS knows that most timeshares have no resale value, and anyone who has tried to sell a timeshare usually knows this as well. Since most people look to sell their timeshare before donating it, then it can reasonably be assumed that the person who donated the timeshare knew that the appraisal of the value of their property was indeed a fake. This analysis and timeshare donation review can help you avoid major legal issues by avoiding timeshare donation all together. The last organization you want to owe is the IRS!

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