On the Record: The Rules of Appraisals

Who is a qualified appraiser?
A qualified appraiser obviously must be someone experienced in the field of appraisals and with knowledge of the property being appraised. The qualified appraiser cannot be:

• the donor claiming the deduction;

• the person or company who sold the donated property to the donor (unless the donation is made two months after the property was acquired and the appraised price does not exceed the purchase price);

• the charitable donee;

• anyone related to, married to or employed by the donor or the charity; or

• an appraiser who spends the majority of his or her time providing appraisals for the donor or the charity.

Remember, a qualified appraiser must declare on the appraisal that he holds himself out to the public as an appraiser; that he is qualified to make appraisals of the type of property being valued; that he is permitted to serve as an appraiser under the criteria listed above; and that he acknowledges the penalties for an intentionally false or fraudulent valuation.