Discussion:Can timeshare be donated or sold to church?

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Discussion Forum Index --> Basic Tax Questions --> Can timeshare be donated or sold to church?
Discussion Forum Index --> Tax Questions --> Can timeshare be donated or sold to church?

Lmcdon9822 (talk|edits) said:

10 March 2009
I have a client who would like to either donate or sell the timeshare to the church. How can this be done? Can someone point me in the right direction? Which is best for the church?

Kevinh5 (talk|edits) said:

10 March 2009
It's best for the church not to accept this donation. The maintenance fees will be an alligator.

Lucky (talk|edits) said:

10 March 2009
If the timeshare is valued higher than $5,000 you would need a current valuation attached to the return. Other wise it is a straight real estate transaction transferring ownership to the church.

Lmcdon9822 (talk|edits) said:

10 March 2009
Thanks, I believe the client have these choices:

1) If its a donation, then I would think ownership would still be in the current owner's name and the donation for that year would have to be attached to the tax return each year. 2) If the timeshare was "given" to the church as a donation, I can just follow the current donation rules. 3) If sold, then follow today's real estate transanction transferring ownership.

Right about the maintenance fees!!

Blrgcpa (talk|edits) said:

10 March 2009
If the owner still owns the time share, what is the donation? For a donation, the title would have to change.

Kevinh5 (talk|edits) said:

10 March 2009
very good point, BlrgCPA. In prior posts, Riley2 pointed out that the entire interest must be donated, not just the one-time use of one week.

CrowJD (talk|edits) said:

10 March 2009
I know a lot of sinners who have bought themselves (through a life of dissipation) a timeshare in the infernal regions, then tried to trade it away when the going gets too hot. Nay. Can't be done.

Normally, a church will not even accept such a timeshare to begin with. However, I think they should, to give some of their members a chance to taste the wages of sin on a rental basis, rather than have them risk an eternal commitment.

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