Original Message:
Re: Has anyone ever donated a timeshare for a tax write-off? (by R P.):
I agree that CPA DaveM at Tug has some very good advice concerning timeshare donations and the IRS. I went to that site but couldn't find his advice. It really should be a sticky in some forum for easy viewing. It would be nice if DaveM posted his IRS advice here on Redweek.
mariam201 wrote:2. Do some homework on the "write off" aspect of your intentions. You may be surprised about the applicable IRS laws / rules on the matter. Frankly, the likelihood of your actually deriving any tax benefit whatsoever are actually pretty slim. If you happen to belong to TUG, there are some very knowledgeable folks there familiar with every last detail of the "donation" issue --- all of their advice is posted and readily available there. I'm NOT steering you off RedWeek, but on this particular topic there is a lot of legal and tax expertise in evidence "over there", whereas I've not (at least personally) ever seen that same level of tax expertise / detail expressed here in RedWeek forums. They are not "better", just much "older" (longer established).