[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

gift appraisals



Good Morning,

I'm posting this for a colleague. Please respond directly to:  brichards@gcsu.edu


Can anyone cite a specific IRS tax code or law that prohibits the donee (recipient) of a gift from paying for an independent gift appraisal? According to "Archives and Manuscripts: Law," the donor or the donee may pay for the appraisal, so long as the appraiser is indeed qualified and was not a party to the transactions by which the donor acquired the materials." In other words, IRS would disallow an appraisal performed by a manuscript dealer who had sold the items being donated to the donor.
But as long as the appraiser is qualified and otherwise independent, who pays for the appraisal does not appear to matter to the IRS. If anyone can cite IRS regulations to the contrary, or in support of this statement, please let me know.
Thanks.



Nancy
Nancy Davis Bray
Special Collections
GCS&U
Milledgeville, GA  31061
nbray@mail.gcsu.edu