ZENITH GALLERYest. 1978
Celebrating 32 Years in the Nation’s Capital

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IRS Requirements for Donating Paintings, Antiques, and Other Objects of Art

Qualified Appraisal

Generally, if the claimed deduction for an item or group of similar items of donated property is more than $5,000, you must get a qualified appraisal made by a qualified appraiser. You must also complete Form 8283, Section B, and attach it to your tax return.

A qualified appraisal is an appraisal document that:

  • Is made, signed, and dated by a qualified appraiser
    in accordance with generally accepted appraisal standards,
  • Meets the relevant requirements of Regulations section 1.170A-13(c)(3) and Notice 2006-96, 2006-46 I.R.B. 902 (available at Paintings, Antiques, and Other Objects of Art
  • Relates to an appraisal made not earlier than 60 days before the date of contribution of the appraised property,
  • Does not involve a prohibited appraisal fee, and
  • Includes certain information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Zenith Gallery    PO# 55295    Washington, DC 20040    202-783-2963    art@zenithgallery.com   
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