How to Donate Timeshare
Looking to donate timeshare to charity, but don’t know where to begin? That’s where we come in. Donate My Timeshare will help you throughout the donation process, from general questions about timeshare transfer to information about a timeshare tax deduction. We’ve helped many timeshare owners to donate their vacation ownership to charity. Not only can we help you to get out from under your timeshare, but you can also provide a generous donation to help someone in need. We will also work to ensure that the donation process is an easy and hassle-free experience for you. See below to learn how to donate a timeshare.
Timeshare Donation – Getting Started
Before you donate your timeshare, it is helpful to have your ownership details and information ready. At Donate My Timeshare, we ask that you prepare the following information and documents to help the timeshare donation process go quickly and smoothly. Here’s what you need:
- Resort name
- Your deed or certificate
- Your timeshare contract or agreement
- Receipt showing that your mortgage is paid in full
- Timeshare exchange company information (if applicable)
- Your last maintenance fee bill
- Your last timeshare tax payment (if billed separately)
If you do not have all of these documents, don’t panic. Simply continue to the next step and submit your information. While having these documents will help to speed up the timeshare donation process, we can work with you to retrieve the necessary information to move forward.
The Process of Donating a Timeshare
With Donate My Timeshare, learning how to donate a timeshare is easy. All you have to do is follow these 4 simple steps:
- Step 1
Submit your information using the form in the upper right-hand corner and we will contact you shortly after.
- Step 2
Complete the Consent and Donation Agreement form online and hit submit.
- Step 3
Our closing company will contact you within a few days to start the donation to Give Back Charities, Inc.
- Step 4
When the transfer is complete we will notify you in writing, as well as provide you with a receipt for your records, and which you will need should you decide to apply for a tax deduction.
The timeshare donation process takes about 90 to 120 days to complete. Once you submit the consent and donation agreement you will work directly with the title company to finalize the details. If you have questions about the process, feel free to contact us.
Timeshare Donation Tax Write-Off
Once your timeshare donation is complete, you may be able to submit a tax deduction on your yearly return. The IRS states that you may file to deduct the “Fair Market Value” of your timeshare donation, should your gift qualify. If your timeshare donation’s Fair Market Value is estimated to be over $5,000, you will need a timeshare appraisal in order to file the claim.
It is important to note that this type of deduction refers only to deeded timeshare property interests. Unfortunately a right-to-use timeshare will not be recognized by the IRS for a tax deduction. Many owners have also requested to donate a timeshare week to charity that they do not plan on using. Currently, the IRS does not allow tax deductions to occur on week donations, as only deeded real estate interests fall into this category. See our page about timeshare donations and tax benefits for more information.
DonateMyTimeshare.org does not give tax advice or assistance, please speak with a CPA or financial advisor to see if your timeshare donation is eligible for a tax deduction. A CPA can also help you to file your deduction with your tax return, if eligible.
Have a question? Check out our FAQ page.