A gift tax is a federal transfer tax applied to certain transfers of property made during a person’s lifetime for less than full consideration. The tax system works alongside the estate tax and uses a unified exemption amount. Gifts can include cash, real estate, securities, business interests, artwork, or other tangible or intangible property. While many transfers qualify for exclusions or fall below reporting thresholds, others must be disclosed to the IRS so lifetime use of exemption can be tracked and applied properly.
A gift tax appraisal is an independent opinion of the fair market value of property transferred during life for purposes of reporting the gift to the IRS. The valuation is used to support amounts disclosed on Form 709 and may affect exemption usage, future estate calculations, and potential audit exposure.
Assignments frequently involve closely held businesses, fractional interests, family entities, real or personal property, and other assets without readily available market quotations. Reports are typically prepared in accordance with recognized professional standards such as USPAP and are designed to be credible, supportable, and defensible
About AppraiseItNow's Gift Tax Appraisal Services
A gift tax appraisal establishes the fair market value of property transferred to another party without receiving full market value in return. When gifts exceed the 2025 annual exclusion of $19,000 per recipient, or when closely held assets are involved, a qualified appraisal becomes critical to support Form 709 filings and protect against IRS valuation challenges. Adequate disclosure, including a thorough description, valuation methodology, and supporting documentation, starts the three-year statute of limitations and shields transfers from indefinite IRS scrutiny.
AppraiseItNow delivers gift tax appraisals online and onsite across the United States, covering personal property, equipment and machinery, artwork, business interests, boats, and automobiles. Our mission is to deliver defensible, USPAP-compliant valuations with exceptional speed, professionalism, and client service.
What Does AppraiseItNow Appraise for Gift Tax?
AppraiseItNow covers every major asset class that commonly requires valuation for gift tax purposes, including:
- Personal Property – jewelry, antiques, furniture, coins, collectibles, and household goods
- Equipment & Machinery – medical equipment, restaurant equipment, manufacturing machinery, and technology assets
- Fine Art – paintings, prints, sculpture, photography, and mixed media
- Business Interests – LLCs, S-corps, partnerships, fractional interests, and privately held stock
- Boats & Watercraft – sailboats, powerboats, yachts, jet skis, and personal watercraft
- Automobiles & Vehicles – cars, trucks, motorcycles, RVs, trailers, and classic vehicles
Who Does AppraiseItNow Serve?
- Individuals transferring high-value assets to family members and seeking IRS-defensible valuations for Form 709 filings
- Estate planning attorneys structuring gifts of business interests, collectibles, or other non-liquid assets
- CPAs and tax advisors who need qualified appraisals to support gift tax returns and protect clients from valuation penalties
- Wealth managers and financial planners coordinating asset transfers as part of broader estate and tax strategies
- Trustees and executors managing gifting programs that involve tangible property, artwork, or privately held business stakes