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Original Message:
Timeshare Donation (by R P.):
denniss333 wrote:We donated our timeshare to a charity that only accepts timeshare donations.At first we were very skeptical but we just got our recorded deed and being in the real estate biz
i ran a title search and sure enough we are NOT the owners anymore!!!
it did cost us $299.00 Transfer fee and it went into a new owners name a MR and MRS ....
the Resort did confirm that the transfer was completed and it only took 45 days.
I have confirmed with my CPA that the documents i have from the charity do allow me to write off
$5000 withOUT any type of Appraisal.
We are so happy to be timeshare free!!!
if you are interested in the charity i used email me anytime
btw...i owned a westgate timeshare...
That socalled IRS write-off will come back to haunt you in the future. It's the fair market value that counts and if you gave your timeshare away to some sort of bogus charity then the fair market value would be ZERO .... and with the IRS it could take years to contact you all the while they're adding penalties and interest on top of the bogus $5000 write off.
Anyone believing your crap gets what they deserve. One such charity scam has tried to advertise on Redweek's forums time and time again and they have since been banned.