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Donation of Van
In October of 1996, petitioners purchased a 1996 Ford E150
conversion van. On October 30, 2000, petitioners donated the van
to the Cancer Fund. At the time of the donation, the van had
been used in petitioners’ furniture business and had
approximately 220,000 miles on it,3 and the van had, among other
things, a cracked windshield and a broken fender.
At the time of the donation, the Kelley Bluebook indicated
generally a wholesale value of $14,750 and a retail value of
$20,425 for a van of the same year, make, and model.
On November 10, 2000, Mr. Monte Sobrero appraised the van at
$19,750.
The record does not reflect who hired Mr. Sobrero, how much
Mr. Sobrero was paid, or who paid Mr. Sobrero for his appraisal.
The record is also unclear as to whether the van was still in
petitioners’ possession at the time of its appraisal by
Mr. Sobrero.
Mr. Sobrero’s stated appraisal qualifications include 40
years as a craftsman in metal finishing and paint restoration, 30
years as a licensed automotive dealer in California, 15 years as
owner-operator of an automotive shop, 10 years as owner-manager
3 Petitioner testified that the van was driven between
55,000 and 60,000 miles a year in petitioners’ furniture
business. On their 2000 joint Federal income tax return,
petitioners indicated that in 2000 petitioners drove the van
72,000 miles.
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Last modified: May 25, 2011