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be allowed if these requirements are not satisfied. Sec. 1.170A-
13(c)(2), Income Tax Regs.
A qualified appraisal is an appraisal document that: (1)
Relates to an appraisal that is made no earlier than 60 days
before the date of contribution of the appraised property or
later than the due date of the return on which a deduction is
first claimed; (2) is prepared, signed, and dated by a qualified
appraiser; (3) includes a statement that the appraisal was
prepared for income tax purposes; and (4) includes the appraised
fair market value of the property on the date (or expected date)
of contribution.
A qualified appraiser is an individual who includes on the
appraisal summary a declaration that: (1) The individual either
holds himself or herself out to the public as an appraiser or
performs appraisals regularly; (2) the appraiser is qualified to
make appraisals of the type of property being valued; and (3) the
appraiser understands that an intentionally false or fraudulent
overstatement of the value of the property described in the
qualified appraisal or appraisal summary may subject the
appraiser to civil penalty under section 6701 for aiding and
abetting an understatement of income tax liability. Sec. 1.170A-
13(c)(5)(i)(A), (B), (D), Income Tax Regs. An individual is not
a qualified appraiser if the individual is the donor, the donee,
any person employed by the donor or donee, or an appraiser who is
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Last modified: November 10, 2007