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Donating my timeshare to a charity (by Lance C.):

michaelb305 wrote:

I own a timeshare in Cabo. I no longer want it. I contacted a organization called Donate for a Cause. They want almost $2000.00 in various fees to take it. They say that the fees and 80% of the purchase price is tax deductable. I have a real problem paying that kind of money to give someone my timeshare. Has anyone heard of them? Is it true what they say? It seems like yet another timeshare scam to me.

There is no tax deduction provision available! If you have to actually pay someone to take your timeshare away, its value is zero. Hence, your deduction is zero.

If you donate a non-cash item to a charity, the actual value has to be substantiated and it's a long, arduous process. Besides, there was a post in a thread a couple of months ago about how one person tried to write off the value of her donated timeshare but then got stung by Uncle Sam.

Have you tried listing your unit for sale for $1 (or even free)? Offer to pay the closing costs. Maybe even offer to pay the next year's maintenance fees. That will cost less than what DFAC is charging.