Publication 561
Determining the Value of Donated Property
(Revised: 2/2000)

Table of Contents

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Publication 561, Determining the Value of Donated Property

• What Is Fair Market Value (FMV)?
  • Determining Fair Market Value
    • Cost or Selling Price of the Donated Property
    • Sales of Comparable Properties
    • Replacement Cost
    • Opinions of Experts
  • Problems in Determining Fair Market Value
    • Unusual Market Conditions
    • Selection of Comparable Sales
    • Future Events
    • Using Past Events to Predict the Future
• Valuation of Various Kinds of Property
  • Household Goods
  • Used Clothing
  • Jewelry and Gems
  • Paintings, Antiques, and Other Objects of Art
  • Collections
  • Cars, Boats, and Aircraft
  • Inventory
  • Stocks and Bonds
  • Real Estate
    • 1. Comparable Sales
    • 2. Capitalization of Income
    • 3. Replacement Cost New or Reproduction Cost Minus Observed Depreciation
  • Interest in a Business
  • Annuities, Interests for Life or Terms of Years, Remainders, and Reversions
  • Certain Life Insurance and Annuity Contracts
  • Partial Interest in Property Not in Trust
• Appraisals
  • Deductions of More Than $5,000
  • Qualified Appraisal
  • Appraisal Summary
  • Internal Revenue Service Review of Appraisals
• Penalties
• How To Get More Information

Index

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A

• Aircraft
• Annuity contracts
• Appraisal summary
• Appraisals
• Appraisals , Cost of
• Appraisals , Penalties, overstated value
• Art objects
• Art objects , Valued at $20,000 or more
• Art objects , Valued at $50,000 or more

B

• Bonds
• Books

C

• Coins
• Collections
• Comparable properties, sales of
• Comparable properties, sales of
• Conservation contribution
• Cost
• Cost , Rate of increase or decrease
• Cost , Terms of purchase or sale

D

• Date of contribution
• Deductions of more than $5,000

F

• Fair market value
• Fair market value , Problems in determining FMV
• Form 8283
• Formulas, use in valuing property
• Future events, effect on value

H

• Household goods

I

• Interest in a business
• Inventory
• IRS review of appraisals

J

• Jewelry and gems

M

• Market conditions, effect on value

N

• Nonpublicly traded stock

O

• Opinions of experts

P

• Partial interest
• Past events, effect on value
• Penalty, overstated value
• Publicly traded securities

Q

• Qualified appraisal
• Qualified appraiser
• Qualified conservation contribution

R

• Real estate
• Replacement cost
• Reversion interests

S

• Stamps
• Statement of Value

T

• TTY/TDD information

U

• Used clothing

V

• Valuation of property