PP400 Fair Market Value: Appraising Personal Property for Non-Cash Charitable Contributions and Estates

Class Date/Time

Tuesday, February 18 and Thursday, February 20, 2025
10:00am - 6:00pm Eastern US

This class will not meet on Wednesday, February 19

Registration Includes

• One registrant log-in to the live sessions via Zoom
• Downloadable course materials to include a Student Manual and any additional handouts i.e. administrative/exam guidance, if applicable.  

All course materials are PDF Download Only items made available to students prior to the start of the class and are not for resale or distribution. Once eMaterials have been distributed, courses are no longer refundable.

Class Format

PP400 is being presented online via Zoom and will be taught by a live instructor. Students will meet virtually with the instructor over the internet and will engage in discussions and class exercises.

This class will not be recorded.

Course Description

This course has been developed to acquaint beginning appraisers with the requirements of preparing appraisals for the intended uses that require an opinion of Fair Market Value and to provide experienced appraisers with a review of and information about changes of the laws and regulations to which appraisers must adhere in preparing such valuations. In addition, this course will provide updates to current terms and practices for all professional appraisers. 

The course reviews the concept of Scope of Work in relation to IRS requirements for the various intended uses of a Fair market Value appraisal. It reviews the various definitions from the Code of Federal Regulations (CFR) and compares them. 
 
The course looks at the new regulations and requirements of a personal property appraisal for non-Cash Charitable Contributions as well as the requirements for requirements for estate tax filing.
 
Because not all requirements derive from the regulations, the course provides information on the outcomes of numerous Tax Court cases that have an impact on appraisal requirements. 
 
Included in this course are explanations of the concepts of fractional donations; ordinary income and capital gains property; the selection appropriate market and of comparable properties; the “suggested” format of an appraisal and the requirements of an appraisal; and the different roles of the IRS “players” in the process.

Learning Level

Advanced

Continuing Education (CE) Information

This course will award 18 CE hours.

Learning Outcomes

Upon completion of this course, students should know and understand:

• The terms “qualified appraiser” and “qualified appraisal,” as used by the IRS in the most current regulations;
• The “scope of work” process for appraisals concluding Fair Market Value;
• The requirements of a Fair Market Value appraisal prepared for assignments that include the generational transfer of personal property, charitable contributions for preparation of federal taxes, and other intended IRS uses;
• The terminology included in the regulations for Non-Cash Charitable Contributions and other IRS uses;
• Selected federal tax court cases that may have an effect on future assignments; and
• What needs to be included in an up-to-date, cohesive, logical and well-organized appraisal report that concludes Fair Market Value for estates, non-cash charitable contributions, etc.

Financial Assistance

ASA’s Educational Foundation recognizes students who choose to invest their time in appraisal studies by providing assistance to students demonstrating a financial need. Please visit the Educational Foundation's webpage for more information and to download an application.