Original Message:
tax question: donating a timeshare that I paid $1 for (by Lance C.):
tomd360 wrote:I was fortunate enough to donate my timeshare to Donate for a Cause in 2012. My tax guy is now telling us that we can not claim the tax deduction on the value of the timeshare because we originally paid $1 for it.Does anyone know how this works or can point me to documentation?
Thx - Tom
My question is If a professional tax preparer such as "[your] tax guy" is telling you that you can not claim that tax deduction, then why are you coming on these boards asking non-professional tax people if you can?
Are you just asking around in hopes of at least someone (whether or not that person is a professional) will tell you what you want to hear so that you can proceed with this questionable tax deduction and then, if/when you get caught, you can claim that you got this advice from a "reputable" source (a forum on timeshares where any Joe of the street can join)?