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A fraction of the donated value is still much bigger than the actual value you paid for the art. The important part is to get an appraisal far above the actual
by thebean11 5y ago
A fraction of the donated value is still much bigger than the actual value you paid for the art. The important part is to get an appraisal far above the actual value.
- fridif 5y agoHow does one get an appraisal that the IRS will believe?
- patrickthebold 5y agoThe IRS is way understaffed. I imagine they aren't looking too hard.
- fridif 5y agoIf you are reporting hundreds of k in donations I'm almost certain you are getting audited, even if it takes them a few years to begin it