believerjoe Posted December 11, 2015 Share Posted December 11, 2015 Anyone ever get appraisals for donations so they can deduct for tax purposes? I am going to have some tax issues and luck has it that I made a large donation earlier this year. Link to comment Share on other sites More sharing options...
Herb Posted December 11, 2015 Share Posted December 11, 2015 look um up on the web and see what they are selling for, and use that as a base for value. That's the way the Swiss customs do it. "Absence of evidence is not evidence of absence"_ Carl Sagen No trees were killed in this posting......however, many innocent electrons were diverted from where they originally intended to go. " I think, therefore I collect fossils." _ Me "When you have eliminated the impossible, whatever remains, however improbable, must be the truth."__S. Holmes "can't we all just get along?" Jack Nicholson from Mars Attacks Link to comment Share on other sites More sharing options...
erose Posted December 11, 2015 Share Posted December 11, 2015 If you made the donation to a museum they are not allowed to make the valuation. Short of paying for an appraisal what Herb suggests is a good way to go. Just document the source or sources you used. Link to comment Share on other sites More sharing options...
Uncle Siphuncle Posted December 11, 2015 Share Posted December 11, 2015 Contact a reputable Texas commercial dealer. Grüße, Daniel A. Wöhr aus Südtexas "To the motivated go the spoils." Link to comment Share on other sites More sharing options...
jpc Posted December 11, 2015 Share Posted December 11, 2015 look um up on the web and see what they are selling for, and use that as a base for value. That's the way the Swiss customs do it. Being of Swiss decent, I am curious as to how you know this, Herb. Link to comment Share on other sites More sharing options...
ZiggieCie Posted December 11, 2015 Share Posted December 11, 2015 Being of Swiss decent, I am curious as to how you know this, Herb. The Jeopardy tune is playing in the background as we wait for Herbs answer. Doo doo doo doo doo doo doo......... Link to comment Share on other sites More sharing options...
jpevahouse Posted December 11, 2015 Share Posted December 11, 2015 (edited) I've worked with volunteer organizations and museums many years. Most museums and institutions won't provide an appraisal. There are independant professional appraisers who charge well for their services. If the contribution was worth a lot it might be worth paying an appraiser but you can only deduct a percentage of the value of a chartible donation, maybe 50 percent at best. It's not the easy way out of tax liability many people think. Edited December 11, 2015 by jpevahouse Link to comment Share on other sites More sharing options...
believerjoe Posted December 12, 2015 Author Share Posted December 12, 2015 It is a rare mosasaur, so my gut tells me valuable. The issue is determining the value on my own. I can find mosasaur samples for 15000, but they are common. By piece it would not be substantial, but it is an associated find. Be fun to see what everyone thinks. Link to comment Share on other sites More sharing options...
JohnJ Posted December 12, 2015 Share Posted December 12, 2015 Joe, since TFF does not appraise or endorse appraisals, you're best bet would be to touch base with a few reputable dealers, as mentioned. The human mind has the ability to believe anything is true. - JJ Link to comment Share on other sites More sharing options...
jpc Posted December 13, 2015 Share Posted December 13, 2015 jeopardy music continues... Link to comment Share on other sites More sharing options...
Ptychodus04 Posted December 16, 2015 Share Posted December 16, 2015 According to my accountant, the IRS is going to require an actual appraisal for any fossil donation valued over $500. Self appraisal won't cut it, nor will looking it up online and documenting your sources. I would suggest looking online for an legitimate appraisal firm and going from there. 2 Regards, Kris Global Paleo Services, LLC https://globalpaleoservices.com http://instagram.com/globalpaleoservices http://instagram.com/kris.howe Link to comment Share on other sites More sharing options...
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