Donation & Form 8283 Appraisals in New Jersey

When do you need one?

The IRS generally requires a written qualified appraisal when a deduction for donated real estate is more than $5,000. The gift is reported in Section B of Form 8283, which the appraiser and the charity both sign. For a deduction above $500,000, the appraisal itself generally goes with the tax return. Your CPA or attorney can confirm what applies to your gift.

Timing matters

The appraisal generally can't be dated more than 60 days before the gift, and it must be received by the due date of the return that first claims the deduction, including extensions. Please call before the gift if you can.

Bargain sales

In a bargain sale, an owner sells property to a charity for less than market value. An appraisal documents the market value, which is the starting point for figuring the gift portion.

What we need from you

• The property address
• The date of the gift, or the planned date
• The name of the charity
• Your CPA's or attorney's name
• Who can give us access for the inspection

Fees and timing

Most residential appraisals run $600–$900, depending on the property and the assignment. Commercial and industrial appraisals start at $1,750.

The written report is usually delivered within two weeks of the inspection, once we have the property information. We also offer rush appraisals: tell us your deadline when you call or email and we'll confirm whether we can meet it. An additional fee may apply.

Call (732) 638-0442 or send the property details for an exact quote the same business day.