Why Accurate Appraisals Matter in the New Year
Penrose Appraisals
JANUARY 2, 2025
The IRS requires appraisals done by a "qualified appraiser" for items worth $5,000 or more. Below that number, you can do the valuation yourself, but may have greater peace of mind if you hire an appraiser. Appraisals can help ensure adequate insurance coverage.
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