signing 8283 IRS appraisal form

[pianowerks.inc at comcast.net]

Julia,

An important point here is the difference between "replacement value" and "fair-market value".

You were probably right on with your appraisal of replacement value.  When your customer donates the item, he/she must use the fair-market value for tax purposes.

Did you include fair-market value on your appraisal?  The way I read the IRS forms, you can always provide more information should they (the IRS) request it, so you needn't fret too much.

Keep up the good work,

Brad Haskins



-------------- Original message -------------- 
From: "Annie Grieshop" <annie at allthingspiano.com> 

Here's the IRS info on the form -- appraisal regulations on p. 5 and appraiser qualifications on p. 6:  http://www.irs.gov/pub/irs-pdf/i8283.pdf.  

If you want to hand this off to someone else (e.g., the local music store), you could use the qualifications section to excuse yourself.  It sounds as though the owner misrepresented the purpose of the appraisal, so I wouldn't feel beholden to her in any way if I were you.

Annie Grieshop
----- Original Message ----- 
From: 
To: pianotech at ptg.org
Sent: 04/29/2007 9:48:25 AM 
Subject: signing 8283 IRS appraisal form
 
Greetings,
 
          I had a lady customer who wanted an appraisal on the replacement value of her Yamaha C7. It was 1972 manufacture. I completely looked over the piano, and it was as new! She had a humidifier running and told me she had done so since the piano was new. By the looks of the piano I could tell. I couldnt find a thing wrong with it. I wrote a letter stating that I did a full inspection and then I called a dealer and asked what the price of that piano. They told me 30,000.00 So I wrote that the replacement value of the piano was 30K.
 
       Turns out they sold the piano for 5,000 to a non-profit music group and wrote 25,000.00 off their tax. Now they want me to sign this IRS form. My confidence is shaken, because I am suppose to sign this thing, and it states that "I do appraisals on a regular basis"...however, I do tuning and repair on a regular basis. Am I over-worring here?  I mean, I think the purpose of the form is to confirm that I just dont work at Turkey Hill or K-mart or something and that I do know the value of such things, which I do know. Is there any responsibilty I have over looked. I am tuning, repairing, refurbishing and evaluating for 4 years now. This is a first. 
 
Thanks in advance,
Julia
Reading, PA






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