Penrose Appraisals

SEPTEMBER 27, 2022

But if you are considering donations of tangible goods, especially high-value tangible goods, then read on. As you may have read elsewhere on the website, the IRS has many rules when it comes to the charitable donation tax credit. (As As always, I am not a tax advisor nor a tax expert. Peace of mind.

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Charitable Donations Appraiser/appraisal Antiques and Decorative Arts Market Value 52

International Society of Appraisers

MARCH 14, 2025

A collection of unbranded jewelry that has no celebrity provenance may sell at a local or regional auction house. This quote is in the context of IRS Publication 561, which provides guidance for determining fair market value for charitable donations; therefore, this quote must be understood within that specific context and intended use.

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Appraiser/appraisal Market Value Appraisal Reports Hypothetical Condition 52

Fine Art Estates

JANUARY 7, 2022

General Questions about Appraisals and Appraisers PART ONE: Keeping Gifts to Museums Tax Deductible In 1962, the IRS was about to remove the income tax deductibility of artworks that were donated to museums because of inappropriate appraisal overvaluation. Many of these sites have been collecting data since the late 1980’s.

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Appraiser/appraisal Insurance Antiques and Decorative Arts Market Value 130