Can an appraisal fee for an investment art collection be deducted if the art is neither being donated or stolen?

rjmcgrath1 · ‎June 4, 2019

Done for insurance purposes only.

TomD8 · ‎June 4, 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.

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

Deductions & credits