Can you donate your timeshare?
Can you donate your timeshare?
Donate Timeshare to Charity DonateMyTimeshare.org makes it easy to donate your timeshare to a worthwhile 501c(3) charity and to feel good about getting rid of your timeshare, because it benefits a good cause. Best of all, in most cases, you can donate a timeshare at no cost to you.
Is donate my timeshare legitimate?
It certainly looks legit, and it’s easy to see why this seems like an appealing option to many timeshare owners. Yes, you may be able to receive tax benefits from donating a timeshare to charity. Once your timeshare donation is completed, you can submit a tax deduction on your yearly return.
How do I donate my timeshare to charity?
Currently there are several methods to give-away or donate your timeshare.
- Sale to relative or friend. The first is to find a willing relative or friend who might make good use of the timeshare.
- Donation to a charity.
- Donation in exchange for tax-deduction.
What charities will take timeshares?
Charities Accepting Timeshare Donations –
- Donate for a Cause – Accept many international timeshares and allow donors to choose charities to which proceeds are allocated.
- Gifts for Sight – Organization handles all paperwork and donation benefits Eye Birth Defects Research Foundation.
What happens if I stop paying my timeshare fees?
If you stop paying it, the timeshare company will do whatever it takes to collect. They’ll make phone calls and send letters, then they’ll assign it over to (you guessed it) a collections company. If you still don’t pay, the situation sinks even further into foreclosure and possible legal action against you.
Is a timeshare donation tax deductible?
Yes, you may be able to receive tax benefits from donating a timeshare to charity. Once your timeshare donation is completed, you can submit a tax deduction on your yearly return. The IRS states that you may file to deduct the “Fair Market Value” of your timeshare donation, should your donation qualify.