Appraisal for IRS Form 8283

What is an IRS Form 8283 appraisal?

An IRS Form 8283 appraisal is a written valuation of donated noncash property prepared by a qualified appraiser to document fair market value for tax deduction purposes. It supports Form 8283, which taxpayers file with their returns to report noncash charitable contributions exceeding $500. For donations over $5,000, the appraiser must sign Section B of the form, declaring their qualifications and independence from both the donor and the donee.

When is an IRS Form 8283 appraisal required?

A qualified appraisal is required when claiming a deduction exceeding $5,000 for any single item or group of similar items donated to a qualified charity, with exceptions for publicly traded securities. The appraisal must be signed no earlier than 60 days before the donation date and received before your tax return's due date, including extensions.

What types of assets need an IRS Form 8283 appraisal?

Assets commonly requiring a qualified appraisal for Form 8283 purposes include:

• Fine art and collectibles
• Business interests
• Equipment
• Vehicles
• Boats
• Inventory

Who qualifies as an appraiser for IRS Form 8283 purposes?

A qualified appraiser must perform appraisals regularly, hold relevant credentials for the property type, and declare their competence and independence on Form 8283 Part IV. They cannot be the donor, the donee, a related party, or anyone whose fee is based on a percentage of the appraised value.

Are AppraiseItNow's IRS Form 8283 appraisals USPAP-compliant?

Yes. IRS regulations require Form 8283 appraisals to follow the substance and principles of USPAP under Treasury Regulation §1.170A-13(c), and all AppraiseItNow appraisals are prepared in compliance with those standards.

What information do you need to get started?

• Description of the donated property
• Acquisition date and method
• Donor's cost basis
• Intended donation date
• Recipient charity's name and details
• Donor's taxpayer identification number (TIN)
• Photos and condition documentation, particularly for fine art and collectibles

How long does an IRS Form 8283 appraisal take?

Most appraisals are completed within 7 to 10 days. Rush service may be available upon request.

How much does an IRS Form 8283 appraisal cost?

Fees vary depending on asset type, complexity, and scope, visit our pricing page for a full breakdown.

Can you appraise assets located anywhere in the US?

Yes. AppraiseItNow provides appraisals for clients across the country, and many appraisals can be completed remotely using documentation, photographs, and supporting records you provide.

Will my appraisal be accepted by the IRS?

AppraiseItNow appraisals are prepared to meet qualified appraisal standards, including a defined valuation date, documented methodology, appraiser credentials, and a non-contingent fee declaration. While no firm can guarantee acceptance in every case, following these standards significantly reduces the risk of IRS challenge or valuation penalties for both the taxpayer and the appraiser.

Do you buy, sell, or broker assets?

No. AppraiseItNow provides independent appraisals only. We have no financial interest in any asset we appraise, which is a requirement for qualified appraisals under IRS rules.

What exactly needs to be filled out in Section B of Form 8283 for donations over $5,000, and who has to sign it?

Section B requires Part I (property description, acquisition method, cost basis, fair market value, and valuation method), Part IV (the appraiser's declaration of qualifications and independence), and Part V (the donee's acknowledgment of receipt). The qualified appraiser signs Part IV, and the donee organization signs Part V.

Can I group similar items together on Form 8283 to stay under the $5,000 appraisal threshold?

Grouping similar items donated in the same tax year is permitted and consolidates documentation, but if the group's total value exceeds $5,000, a qualified appraisal is still required. Grouping reduces paperwork but does not eliminate the appraisal obligation.

How soon before the donation date can my appraisal be signed, and when do I need to receive it?

The appraisal must be signed no earlier than 60 days before the donation date. You must receive it before the due date of your tax return, including extensions, on which you first claim the deduction.

What happens if the donor's cost basis or the appraiser's TIN is missing from Form 8283?

The IRS has disallowed charitable deductions for incomplete Form 8283 entries, including missing basis information and appraiser TINs. These are treated as material errors, so every required field must be completed accurately before filing.

For artwork over $20,000 or property over $500,000, do I need to attach the full appraisal to my tax return?

For artwork valued over $20,000, a copy of the qualified appraisal must be attached to your return. For any property valued over $500,000, the full appraisal report must be attached; for donations between $5,000 and $500,000, Form 8283 Section B serves as the summary and the full appraisal should be retained in your records.

If my LLC or S-corp makes a noncash donation over $5,000, who files Form 8283 and obtains the appraisal?

Each partner, shareholder, or member claiming a deduction for their proportionate share must file a separate Form 8283 and obtain a qualified appraisal. The entity itself does not file Form 8283; each owner reports their share of the deduction on their individual or entity return with the corresponding Section B attached.