What is the protocol for creating an IRS valuation statement for a non-related use donation to a 501(c)3.
A gallery has donated a work from inventory to a benefit auction. The piece sells for less than the cost (acquisition price) of the work. The gallery would like the appraiser to create an appraisal to substantiate the form 8283. Because the donation does not meet related use criteria, oes a summary report substantiating Fair Market Value serve this purpose? Thank you.
Open Jul 12, 2016 - 04:17 PM