Appraisal Tax Benefits
The process of qualifying for the tax benefits of deconstruction:
- You can choose to give the donation to any qualified 501(c)3 charity. The IRS maintains a list of eligible charities on its website: www.irs.gov.
- For any donation over $5,000, the IRS requires an appraisal.
- A deconstruction firm that can dismantle the structure must be retained. Most non-profit firms either complete the deconstruction themselves or maintain a list of qualified firms.
- Once the deconstruction is complete, you will receive the appraisal and the signed 8283 form to be forwarded to your tax accountant for inclusion in your tax return.
It really is that simple to take advantage of the tax benefits available through this program.
10+ years of experience in the appraisal of re-used, recycled, salvaged and deconstructed building materials and supplies
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