Timeshare*donations -

: Once the deed is legally transferred, the donor is no longer responsible for annual fees or assessments.

Ask for high upfront "processing" or "appraisal" fees before the donation is accepted. timeshare*donations

: For those who cannot sell their unit, donation provides a legal way to transfer the title and end the contract. Warning Signs & Scams : Once the deed is legally transferred, the

: If there is still a mortgage on the timeshare, the IRS may treat the donation as a "bargain sale," which complicates the tax benefits and may even result in a taxable gain for the donor. Potential Benefits Warning Signs & Scams : If there is

: You will likely need to work with specialized "intermediary" organizations that facilitate timeshare donations. It is critical to ensure these are 501(c)(3) nonprofits in good standing to qualify for a tax deduction.

: Donors may be able to deduct the fair market value (not the purchase price) of the timeshare on their federal tax return. Note that the fair market value on the resale market is often significantly lower—sometimes as low as $1—than the original price.