Regulatory Compliance and Valuation

The level of documentation required depends entirely on the fair market value (FMV) of the donated assets:

The donor is required to file IRS Form 8283 (Noncash Charitable Contributions). This form serves to disclose the nature of the property and the method used to determine its value.

While Form 8283 must be submitted, the donor may self-assess the value of the property, provided they maintain reliable written records and receipts to support the valuation.

For high-value assets or aggregate donations of similar items exceeding this threshold, the IRS strictly requires a Qualified Appraisal performed by a Qualified Appraiser.