Timeshare donation for tax write off question

[robby]

If a person has a timeshare that they want to donate to a charity, can they write the fair market value of the timeshare on their taxes or can they only deduct the amount that the charity sells it for? I know that they recently changed the tax definition from fair market value to what it is sold at for cars and trucks. Does this also apply to timeshare units?

[jeffrey]

Originally Posted by robby

If a person has a timeshare that they want to donate to a charity, can they write the fair market value of the timeshare on their taxes or can they only deduct the amount that the charity sells it for? I know that they recently changed the tax definition from fair market value to what it is sold at for cars and trucks. Does this also apply to timeshare units?

You can write of the market value, BUT if it is more than $5000, you need to have an appraisal done which can be rather expensive. You can get more information about donating a timeshare here:

<a href="http://www.timesharetrap.com/donate_a_timeshare_to_charity.html">Donate Your Timeshare</a>
<a href="http://www.timesharetrap.com/charities_that_accept_timeshare_donations.html">Ch arities Accepting Timeshare Donations</a>