Donate You Timeshare

We would recommend extreme caution about being able to write off what you think unless you first check out Donations IRS Rules & Regulations on this website.  Research carefully the articles in the IRS Bulletin and the IRS will require you file FORM 8283 if over $500.

PHOENIX – Call it the old vacation getaway – no one can get rid of. We’re talking about time shares. They can be tough to sell and now one group believes they’ve come up with a better solution: donate them.“If you were to go out and try to sell a timeshare, you’re like thrown into shark infested waters,” said donateforacause.org’s James Tarpey.Timeshares have been around for decades and while many owners wouldn’t trade their weeks for anything, others like Shari Cahill were fed up with rising maintenance fees and the inability to trade their weeks for other spots around the world.”We never used it and we continued to pay for it and it just wasn’t fun anymore,” said Cahill. And neither was the idea of leaving the timeshare and all the related debt to her children later in life.That’s when she came across the website donateforacause.com.”We’ve helped 5,000 people get out of their timeshare this way..we found a way to help somebody get rid of their timeshare without getting ripped off,” said Tarpey.Here’s how it works: you pay for an appraisal on your timeshare and Donate For a Cause does the rest, including the paperwork to legally transfer the deed.”We get about 100 people a day who come to us and are interested in donating,” said Tarpey.Donate For a Cause works with The American Cancer Society, Feed the Children and The National Parkinson’s Foundation just to name a few.The charities rent out the timeshares and they buy and keep any extra money after paying off those yearly maintenance fees. The owners, in some cases, get a huge write off.”We were able to write off $9,500 for a timeshare that I paid 12 or 13 thousand for 13 years ago, so I figure this was a win win situation for us..it worked out really well and I’m really glad to be out of the timeshare,” said Cahill.This year, 1.5 million people will try to get rid of their timeshares.

Recommended Reading

• timeshares, buying, selling, deeded vs points
• Charities And Timeshare Donations
• A Reader's Question About Donating A Timeshare Property!

Donate You Timeshare
Donate You Timeshare
Donate You Timeshare

Donate You Timeshare

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