Is donating a week deductible?

[Jeanne Sz Senior Member Find all posts View Profile Close Jeanne Sz]

I've seen the thread about donating your timeshare, but my question is whether donating a week at a timeshare is tax deductible, and if so, how to value it fairly?
We've been approached by a couple of charities we donate to, such as Make A Wish Foundation, or Children's Hospital, to donate a 7 night stay at a resort as part of a silent auction package for their annual fundraising event. Would such a donation be deductible on taxes as an in-kind contribution? Would we deduct the cost of MF's on a unit week we own, plus exchange fees if we have to exchange the week for somewhere else? Or would we base it on the fair market value of the same week if booked on a public portal?

We donated a week last year, but didn't claim it on taxes because it wasn't actually used last year by the winning bidder. The deal we put forth was that the bidder contacts us and we find something available that fits their dates. We then make the reservation and provide the guest confirmation for their stay. Most packages are for Disney World visits, but one charity did ask if we could book somewhere like NYC or even Paris, and we passed on that option.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

No, you can not deduct the cost of your TS for a one time use like a charity auction.

Timeshare Users Group Advice - Income Taxes and Timeshares

"Another frequent question is, "Can I get a tax deduction if I donate the use of my week to a charity?" The answer is “No”. IRS regulations won’t allow a charitable deduction for the gift of a right to use property. Donate the use of a week because you are charitable, but you can't deduct any value associated with the use of the week."

[Jeanne Sz Senior Member Find all posts View Profile Close Jeanne Sz]

That's what I thought

Thanks.

[Spence Super Moderator Find all posts View Profile Close Spence]

http://www.timeshareforums.com/forum...tml#post272007

Seems to be that time of year for charity auctions, I donate a lot of weeks to various concerns, but as a notice and/or reminder:

IRS pub 526 http://www.irs.gov/pub/irs-pdf/p526.pdf
pg8

Partial Interest in Property
Generally, you cannot deduct a charitable con-
tribution of less than your entire interest in property.

Example 2. Mandy White owns a vacation
home at the beach that she sometimes rents to
others. For a fund-raising auction at her church,
she donated the right to use the vacation home
for 1 week. At the auction, the church received
and accepted a bid from Lauren Green equal to
the fair rental value of the home for 1 week.
Mandy cannot claim a deduction because of the
partial interest rule. Lauren cannot claim a de-
duction either, because she received a benefit
equal to the amount of her payment. See Contri-
butions From Which You Benefit, earlier.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

As for donating ownership to a charity, it is deductible.

The charity submits a form to the IRS stating that they have resold it (if they do) and for what amount. I'm guessing it would be a red flag if you took an itemized deduction for more than they sold it for.

In the form you submit to claim the deduction, you state the basis of the asset. If you claim more than you bought it for, I suspect that would be a red flag, too.