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Level 2
June 5, 2019
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Can an appraisal fee for an investment art collection be deducted if the art is neither being donated or stolen?

  • June 5, 2019
  • 1 reply
  • 0 views

Done for insurance purposes only.

Best answer by TomD8

Here is the exact IRS wording:

You can deduct appraisal fees if you pay them to figure a casualty loss or the fair market value of donated property.

https://www.irs.gov/publications/p17/ch28.html

1 reply

TomD8Alumni - ChampAnswer
Alumni - Champ
June 5, 2019

Here is the exact IRS wording:

You can deduct appraisal fees if you pay them to figure a casualty loss or the fair market value of donated property.

https://www.irs.gov/publications/p17/ch28.html

**Answers are correct to the best of my ability but do not constitute tax or legal advice.