TimeshareRelief.com (and it's spinoffs and franchises) charge you $5,000 to give them your timeshare. They will tell you to write it off as a bad investment (illegal). The IRS will tell you it's just a fool's financial decision loss and pay your full taxes. CommunityHealthTraining.org is a charity that does the same thing for $500 and you get a legal IRS $5,000 income deduction for it. The IRS will give you a refund for $5,000 x your income tax bracket percentage.. If you're in a 25% tax bracket you'll get $5,000 x 25% = $1,250 back as a tax refund for the donation.