Many timeshare donation companies would like you to think that you can deduct more money than you actually can from your income tax return for a timeshare donation. Some timeshare donation outfits claim to help people get tax deductions of over $20,000. That's not credible! The fact is the IRS requires that any deductions over $5,000 require a professional appraisal. The first catch to this is that most appraisals cost at least $500. The second catch is that most appraisal companies won't back up the appraisals if you were ever to be audited by the Internal Revenue Service. Several of these companies have even ripped off millions of dollars in appraisal fees before they were finally caught. The state of Florida and many others are trying to make this illegal. As the economy worsens the IRS is cracking down more and more on suspicious deductions. IRS agents know that timeshares are worth very little and know that most donated timeshare sell for under $100. Remember, timeshares are only worth what someone is willing to pay for them.