Original Message:
Re: How to get rid of a timeshare you no longer want .... (by KC):
kenr86 wrote:======================================I'm not an accountant. However, I do have almost 13 years of university training completed as a doctor. I only say this to help you accept my ability to research, digest and present data I study.I've written a rather long article titled Timeshare Donation and IRS Regulation that is way too long to publish here. I took the details of IRS publications, forms and regulations, quoted them and summarized them into an understandable reading sufficient for an attorney or CPA to review but easy to understand for everyone else.
If you're interested go to http://donatetimeshare.blogspot.com/ to read it.
kenr86 is Ken Rich (who is by his own open admission on another site a retired chiropractor, hence "doctor"). He has already been slam dunked by very well informed and knowledgeable people on TUG and TS4MS, most of whom have forgotten more about timeshare than "Dr'" Rich will likely ever learn in his lifetime.
"Dr." Rich's "tax advice" has been appropriately dismantled, disemboweled and openly ridiculed by corporate CPA's and other well informed and experienced folks "in the know" on those above specifically identified, long established, and well respected timeshare sites.
If you take bad tax advice from a retired chiropractor, you should then also be prepared to deal with the potential IRS consequences --- and I doubt that "Dr." Rich will volunteer to appear with you at your IRS audit. He may have "slept in a Hoiday Inn last night", but that doesn't make him particularly knowledgeable about the real life tax implications of timeshare donation --- not by a long shot. "Dr." Rich recently scurried away from the aforementioned sites with his tail between his legs, actually saying "goodbye" upon doing so. Consequently, please take "Dr." Rich's tax advice with a grain --- no, make that a very big pile -- of salt.
Oh, I almost forgot --- "Dr." Rich will also ultimately want payment of $500 from you to benefit from his particular timeshare donation "wisdom". Cheaper than a PostCard Company, but the game is the same (only this one can get you into trouble with the IRS, which even the PCC's don't do). Proceed with "Dr." Rich and his "timeshare donation tax advice" at your own peril. Forewarned is forearmed.
Personally, I take complex tax advice only from tax attorneys and from CPA's --- not from retired chiropractors seeking to apply "innovative" and subjective interpretations to the IRS tax code and regulations. But your own particular mileage may vary. Do you feel lucky today?