Appraisals of Used Clothing and Household Items
(by Dave Maloney) This is Post 1 of 3. It, along with two additional posts, will address when qualified appraisals are required, when they must be attached to the taxpayer’s return, and related issues. See Post 2 of 3. See Post 3 of 3.
This article had its genesis in a recent online discussion regarding appraisal assignments for donation purposes, when and when they are not needed, and when taxpayers must attach them to their income tax returns. (When required to do so, attaching qualified appraisals to a return is the responsibility of the taxpayer, of course, and not the appraiser. Having said that, it is good that the appraiser know when their appraisal is and is not required to be attached by the taxpayer/client to his or her return.)
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