What You Need To Know About Gifting or Donating Fine Objects
When is an appraisal of a donated collection necessary?
There are many types of appraisals. Knowing which is appropriate for your purpose can save you time and (more importantly) money!
Donations for IRS tax deductions require an appraisal if the collectibles are over $500. However, the value of the possible tax deductions can vary depending on a variety of factors, such as the correlation between the gift and the mission of the recipient.
When thinking about gifting, it is important to ask…
From all of us, to you and the ones you hold dear, have a very happy and healthy holiday season!
Professional Consignment Services
Co-Authors: Lynn Magnusson, ASA, AAA and Becky Lipnick, Communications Coordinator