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Re: Getting rid of a time share.

[Q=charles671] lf you are in a certain income bracket,your non-saleable timeshare makes a perfect contribution(writeoff) l own 3 different timeshare and know full well they are not an investment,but a source of pleasure to whoever you gift it to. one tip,bring your CPA a box of candy before they try to get you a nice fat tax deduction. charlie tuna[/Q] The tax benefit derived, IF ANY, from donating an unsellable timeshare is negligible. Unless you have been renting it every year and not usinig it yourself or having relatives and friends use it, or exchanging it, you cannot claim it as a business. For timeshares owned and utilized in the common, non-business way, the Fair Market Value (FMV) value for IRS purposes is the value of week (or points) at the time of the donation, not the price originally paid. Or the price it actually sold for when the charity disposed of it, which is often times $1.00 on Ebay. Charities have become far more knowledgeable about timeshare donations. They will not accept a "non sellable" timeshare. They have learned from past bad experience, that they will become "stuck" paying maintenance fees, taxes, and Special Assessments, etc. until they somehow unload it. One major agency involved in accepting donations is Donate For A Cause www.donateforacause They have a growing list of weeks they will not accept. If the week you consider "non sellable" is on their list, you will almost surely find that no charitable organization will accept it. If, on the other hand, they are willing to accept your week, then you know that you own something of value and should be able to sell it yourself. For detailed information on this and other timeshare related tax issues, visit the various forums at the Timeshare Users Group www.tug2.net Specifically check out this link: http://www.tug2.net/advice/TUG_Taxes_and_Timeshares.htm