Follow Up on the Donation to "Give Kids the World"

[dianeschlicht]

This is SUCH a great idea! Can DVC find a way to make this work without the transfering problems?

 

[Beth]

I think it's a wonderful idea to donate points to this organization but I caution everyone to do a little research before planning on deducting this donation on their taxes. This is from the IRS website:

Right to use property. A contribution of the right to use property is a contribution of less than your entire interest in that property and is not deductible.

Example. 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 deduction either, because she received a benefit equal to the amount of her payment. See Contributions From Which You Benefit, earlier.

Reference: http://www.irs.gov/publications/p526/ar02.html#d0e1463


FWIW.....

 

[bobbiwoz]

This is an interesting, and I'm sure a not quite welcomed idea, but thank you for putting it on the table, Beth.

I see a difference between owning a home and letting someone use my home, and giving away my points because I can never use those points again, I have given away something to charity. I don't think the given example fairly describes what we would be doing by donating points. We own "x" number of points up until the end of the contract and we are giving these away. I have "x" amount of money and I have given some away, why are they different concepts?

This example is probably why I DON'T do our taxes, actually the computer does them, just keeps asking us questions and figuring out what our answers mean.

bobbi

 

[Mai Ku Tiki]

"Thank you for your generous offer to donate a 1 night stay at a DVR.
Please make a reservation for any Friday or Saturday night in February.
Once the reservation is made we will donate the room to a family or staff
member. "

Aloha All! This is a part of the e-mail I rec'd from Andrew at GKTW when I offered them my 12 points. Unfortunately, I couldn't get a FRI or SAT nite! I was hoping GKTW could use a midweek ressie, but I guess that would break up their week too much. Also, I thought the part of using ressie for a STAFF MEMBER interesting. Wouldn't change my mind about donating in the least (I've supported these guys with $$ for a few years now). But I just thought others should know that the donated points may not be used directly for a family in need.

I personally don't care how such a wonderful organization uses my points, but just offering it out there for general info!