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Can I Donate a Timeshare?

Question: Can I donate a timeshare and write it off for the full purchase price?

Answer: No, all non-monetary donations are based on the fair market value. But assuming that the charity will accept the donation of a timeshare –- not all will –- you can do it. Just make sure that it’s the actual ownership of the timeshare that’s being donated: Tax law prohibits a deduction for donating the use of a timeshare to charity. “Fair market value does not always equate to your full purchase price for the timeshare,” says Jodi Robinson, director at CBIZ MHM, an accounting firm based in Kansas City.

The Internal Revenue Service views fair market value as the price that a willing buyer and seller would normally agree, Robinson says. “Your timeshare must have some value and be able to be sold in order for you to donate it,” she says. It may be easier to sell the timeshare and, then, simply donate your proceeds to the charity. However, there are several online resources that can help out such as the “TRI Timeshare Bluebook,” which will help appropriately value the current value of the unit. “TimeShare Trap” will give a list of charities that accept timeshares.

If the determined fair market value of the timeshare donation is greater than $500 you will need to file Form 8283 (pdf) with your tax return. If the value exceeds $5,000 then you must get a formal appraisal from a qualified appraiser to support the value of your deduction. “It’s ultimately up to you to determine the value of the donation that you report to the IRS and, of course, there are penalties for inflating those values to increase your tax deduction,” Robinson says.

The time share must also be fully paid for and have no maintenance fees outstanding before a donation can be made, says Sandra Miniutti, vice president of marketing and chief financial officer at CharityNatigator.org. “We receive a fair amount of inquires from donors who are looking for charities that are interested in such gifts,” she says. “But although the interest among donors is strong, it’s my impression that few charities are willing to accept timeshare donations.”

For more read: How to Give to Charity.

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    • I used Donate for a Cause to get rid of my timeshare. They are a register non-profit that accepts timeshare donation. It was hassle free and they performed exactly as promised.

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Markets »

171.98MDow Volume:
Avg Vol: 111.57M
Unchanged
150
Decliners
1105
Advancers
5358
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,655 +369 2.27%
Nasdaq
/quotes/zigman/12633936/realtime 4,813 +115 2.45%
S&P 500
/quotes/zigman/3870025/realtime 1,988 +47 2.43%
GlobalDow
/quotes/zigman/629063/realtime 2,374 +14 0.58%
Gold
/quotes/zigman/662444/delayed 1,130 +7 0.66%
Oil
/quotes/zigman/2331095/delayed 42.93 +0.37 0.87%
FTSE 100
/quotes/zigman/3173262/delayed 6,192 +213 3.56%
DAX
/quotes/zigman/2380246/delayed 10,316 +318 3.18%
CAC 40
/quotes/zigman/3173214/delayed 4,658 +157 3.49%
FTSE MIB
/quotes/zigman/1482176/delayed 22,201 +727 3.39%
IBEX 35
/quotes/zigman/2759620/delayed 10,290 +306 3.06%
Stoxx 600
/quotes/zigman/2380150/delayed 362 +12 3.46%
Asia Dow
/quotes/zigman/6959860/realtime 2,805 +53 1.91%
Nikkei 225
/quotes/zigman/5986735/delayed 19,068 +494 2.66%
Hang Seng
/quotes/zigman/2622475/delayed 21,962 +124 0.57%
Shanghai
/quotes/zigman/1859015/delayed 3,143 +59 1.93%
Sensex
/quotes/zigman/1652085/delayed 26,506 +275 1.05%
Singapore
/quotes/zigman/1709939/delayed 2,991 +45 1.53%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 +0.00 0.20%
Yen
/quotes/zigman/16008150/realtime/sampled 120.92 -0.11 0.09%
Pound
/quotes/zigman/16008140/realtime/sampled 1.54 +0.00 0.24%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.72 +0.00 0.07%
DXY Index
/quotes/zigman/1652083/delayed 95.62 -0.15 0.16%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.19 -0.08 0.09%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.17 -0.01 0.56%
German 10y
/quotes/zigman/15866409/realtime 0.75 +0.04 5.49%
Italy 10yr
/quotes/zigman/15866497/realtime 1.93 -0.05 2.73%
Spain 10yr
/quotes/zigman/15866444/realtime 2.06 -0.03 1.54%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.87 +0.02 1.11%
Japan 10yr
/quotes/zigman/15866525/realtime 0.39 0.00 0.41%
Crude Oil
/quotes/zigman/2331095/delayed 43 +0 0.87%
Gold
/quotes/zigman/662444/delayed 1,130 +7 0.66%
Corn
/quotes/zigman/7599553/delayed 378 +3 0.67%
DJIA F
/quotes/zigman/38649152/delayed 16,572 -78 0.47%
S&P F
/quotes/zigman/30356461/delayed 1,979 -10 0.51%
Silver
/quotes/zigman/3134148/delayed 14 +0 0.12%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 89.73 2.54 2.91%
AAPL /quotes/zigman/68270/composite 112.92 3.23 2.94%
GOOG /quotes/zigman/30194416/composite 637.61 8.99 1.43%
BAC /quotes/zigman/190927/composite 16.44 0.38 2.37%
C /quotes/zigman/5065548/composite 53.44 1.16 2.22%
F /quotes/zigman/264304/composite 13.56 0.35 2.65%
T /quotes/zigman/398198/composite 33.44 0.75 2.29%
BP /quotes/zigman/247026/composite 33.03 1.93 6.21%
GE /quotes/zigman/227468/composite 25.01 1.00 4.16%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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