What is a qualified appraisal for estate tax purposes?

A qualified appraisal is a detailed, written valuation prepared under IRS rules by a “qualified appraiser” for assets that need formal valuation on an estate or gift tax return. It must be done by someone with the proper education, experience, credentials, and regular work valuing that type of property, and who is independent (not the donor, executor, or an interested party). The report should describe the property, valuation methods, assumptions, and the effective valuation date (often date of death or an allowed alternate date). For certain non‑cash property and closely held business interests, the IRS can reject an estate value if the appraisal does not meet these standards.

Learn more about our Estate Tax appraisals.