Form 8283 is the noncash charitable contributions form. Section A covers lower-value contributions. Section B is where an appraisal enters the picture, and it is where deductions are most often lost.
Section B requires a description of the donated property, the date acquired and how, the donor's cost basis, the appraised fair market value, and a declaration signed by the appraiser. The receiving charity also signs an acknowledgement of receipt.
The appraiser declaration is a substantive statement, not a formality. The appraiser attests to holding themselves out to the public as an appraiser, to performing appraisals regularly, to being qualified to value the specific type of property, and to understanding that a substantial or gross valuation misstatement can result in a penalty.
In practice this means the appraiser must be genuinely competent in the asset class. A residential real estate appraiser signing off on a firearms collection, or a jewelry appraiser signing off on farm equipment, is exactly the kind of mismatch that draws scrutiny.
NextPhase completes and signs the appraiser declaration as part of the assignment, and only for asset classes within demonstrated competence.
Written by
Jeremy C. Johnson — President / Valuation Specialist. AQB Certified USPAP Instructor, Certified Residential Real Estate Appraiser, 21+ years and 7,000+ valuation assignments. Statement of capability →
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