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Re: IRS appraisals



Yes, I am interested too, so that I can quote a specific law when people ask
us to appraise an item or pay for it.

Barbara M. Pope, MLS
Reference Librarian
St. Louis College of Pharmacy
4588 Parkview Place
St. Louis MO 63110
(314) 367-8700 x. 1001
FAX (314) 454-3382


-----Original Message-----
From: Frank Orser [mailto:fraorse@SMATHERSNT2.UFLIB.UFL.EDU]
Sent: Wednesday, June 12, 2002 7:38 AM
To: ARCHIVES@LISTSERV.MUOHIO.EDU
Subject: IRS appraisals


 I am interested in the responses to this query. Might they be summarized
for the list?

Frank Orser
University of Florida

>>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


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