On the Record: The Rules of Appraisals

For starters: When the value of donated property exceeds $5,000, the donor must obtain a “qualified appraisal” dated no earlier than 60 days before the date of the donation — and have it prepared, signed and dated by a qualified appraiser.

What is a qualified appraisal?
A qualified appraisal must describe the donated property and its physical condition, as well as the terms governing its use. It also must include the name, address and taxpayer identification number of the qualified appraiser and, if applicable, the name, address and taxpayer identification number of the company that employs or engages the appraiser.