IRS Form 8283 qualified art appraiser in Massachusetts

Form 8283 is the IRS appraisal summary for a non-cash charitable contribution. It is not the appraisal. For art given from Massachusetts, the return still needs a qualified appraisal by a qualified appraiser when the claimed deduction is over $5,000.

Who counts as qualified

A qualified appraiser has verifiable education and experience in valuing the type of property, regularly prepares appraisals for pay, and is not the donor, the donee, or a party with a prohibited relationship to either. Accreditation by the Appraisers Association of America and current USPAP compliance are the credentials this practice puts on the report. The office is in Framingham. Assignments run across Massachusetts and the rest of New England.

Thresholds that change the file

• Above $5,000: Section B of Form 8283 plus a qualified appraisal.
• At $20,000 or more for art: the signed appraisal is attached to the return.
• At $50,000 and above: the Art Advisory Panel may review the gift.

Timing and fees

The appraisal must be dated no earlier than 60 days before the contribution, and the donor must have it by the return due date, including extensions. Fair market value is as of the donation date, not retail replacement value. Fees are hourly or an agreed flat scope. A percentage of the deduction is a prohibited contingency.