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Estate Appraisals

ESTATE TAX APPRAISALS (Date of Death or Cost Basis)

  • The Internal Revenue Service (I.R.S.) levies taxes on the sale of inherited real property.

  • The amount of taxes owed is based on the amount gained that is beyond the beneficiary's cost basis, or in other words, the value at the time of the owner's passing. 

  • At Appraisal Alliance, we can provide you with an cost basis/date of death appraisal for your tax purposes.

(Note: Some resources state that the property's tax assessment may be used to determine the current value, however, most attorney's will tell you that this is not correct. In the U.S. Supreme Court case, UNITED STATES v. CARTWRIGHT (1973), it was determined that fair market value was required when establishing a cost basis for inheritance, and tax assessments are not fair market value.)

Esther M. (Oakland)  "My husband passed away and I needed an appraisal for estate purposes.  (Steve) was very thorough, knowledgeable, honest, ethical and took his time. He was the consummate professional. I would strongly recommend Appraisal Alliance and Steve Langner. I felt like I was dealing with a friend as well as a professional . . ."  5-Star Google Review

MARKET VALUE APPRAISALS 

A market value appraisal may be desired for setting up a trust, settling an estate, or for the purpose of one party buying out the other. 

Don N. (Martinez)   "I'm a local CPA and whenever any of my clients need their properties appraised, I refer them to Steve Langner. He can be trusted to perform his services professionally, courteously and efficiently and at a very fair and reasonable price. My clients are always appreciative for the referral." 5-Star Yelp Review

DONATION APPRAISALS

  • Whether real property is donated from an estate or just a straight donation, an appraisal of the property is required by the Internal Revenue Service (I.R.S.) for tax purposes.

  • I.R.S. form 8283, page 2, is used for documenting the donation for taxes. The appraisers at Appraisal Alliance are familiar with this form and can assist in completing it, along with signing the form as an I.R.S. qualified appraiser. 

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