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The IRS may see it VERY differently.... (by KC):

patw170 wrote:

I did have to pay I believe $1900 or something like that) for the closing cost, but my timeshare in Maui was tranferred over. They were able to get my appraisal of the property back to me. I was able to successfully write off the closing cost, the appraised value (which was $9000, and $299 which we paid for the appraisal. In total, I was able to deduct a little over $10,000 from my charitable donation.

I am not a tax expert --- and I don't play one on television. That much clearly stated, I respectfully submit that the IRS might very well later choose to challenge the legitimacy and /or accuracy of the "appraisal" that was provided to you. Think of it this way --- if you had to PAY someone to take the timeshare, does it not stand to reason that its' market value was not likely to have been anywhere near $9,000???.

I wish you luck and success with this, but merely FILING the deduction claim on your tax return does NOT necessarily mean that it will pass muster upon later scrutiny by the IRS (which will likely not occur until about a year following the tax reporting year)....