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[Q=robm196] Hello I have a condo that I am considering donating. I have contacted DFAC and actually had an appraisal done for $300 to verify the value of the property. I won't say how much, but let's say the property is valued at $10000. I am interested solely for the tax deduction. I am told that the property will be deeded in DFAC's name and I will be able to claim the $10000 for tax purposes. My question is what if the property resells for $5000? Will I still be able to claim the $10000 that was given to me on the appraisal. I know the IRS has changed rules for donating cars, where the actual sale price, not the appraised value is what can be claimed for tax purposes. Thank you[/Q] From Dave M. (CPA and tax expert on TUG), however this was written several years ago and the appraisals of timeshares have changed dramatically since then. What may have been valued (FMV) then, it's really what someone is willing to pay you in today's market that sets the value. Unless you own a very highend timeshare and during high Red time (some Marriotts, Hyatts, Harborside, Disney, 4 Seasons, etc.) I don't see how DFAC could set a value on your timeshare. Dave M: If donating a deeded timeshare, the deductible contribution amount will normally be equal to the Fair Market Value (FMV) on the date of donation. That’s the price that an arms-length buyer and seller in the timeshare resale market would agree upon, not what the developer is charging for that same week. If the FMV exceeds $5,000, you’ll need a written appraisal that meets IRS guidelines. If the sale of the property would have resulted in a short-term gain, the FMV must be reduced by this amount.