Determining The Value Of Donated Property Instructions - Publication 561
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11Contents
Publication 561
(Rev Nov 96)
Introduction ...............................................
1
Cat. No. 15109Q
Department
What Is Fair Market Value (FMV)? .........
2
of the
Cost or Selling Price of the Donated
Treasury
Determining
Property ........................................
2
Sales of Comparable Properties.........
2
Internal
Replacement Cost...............................
3
Revenue
Opinions of Experts .............................
3
the Value of
Service
Problems in Determining Fair Market
Value .............................................
3
Donated
Valuation of Various Kinds of
Property ..............................................
4
Household Goods................................
4
Property
Used Clothing.......................................
4
Jewelry and Gems ...............................
4
Paintings, Antiques, and Other
Objects of Art ................................
4
Collections ...........................................
4
Cars, Boats, and Aircraft .....................
5
Inventory...............................................
5
Stocks and Bonds................................
5
Real Estate...........................................
6
Interest in a Business ..........................
6
Annuities, Interests for Life or Terms
of Years, Remainders, and
Reversions ....................................
7
Certain Life Insurance and Annuity
Contracts ......................................
7
Partial Interest in Property Not in
Trust ..............................................
7
Appraisals ..................................................
8
Deductions of More Than
$5,000 ............................................
8
Qualified Appraisal...............................
9
Appraisal Summary ............................. 10
Internal Revenue Service Review of
Appraisals .....................................
10
Penalties..................................................... 10
How To Get More Information................ 11
Index ........................................................... 12
Introduction
This publication is designed to help donors
and appraisers determine the value of prop-
erty (other than cash) that is given to qualified
organizations. It also explains what kind of in-
formation you must have to support the chari-
table contribution deduction you claim on your
return.
This publication does not discuss how to
figure the amount of your deduction for chari-
table contributions or written records and sub-
stantiation required. See Publication 526,
Charitable Contributions , for this information.
Useful Items
You may want to see:
Publication
526 Charitable Contributions
535 Business Expenses
Form (and Instructions)
8282 Donee Information Return
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