PP400-OOO - Fair Market Value: Appraising Personal Property for Non-Cash Charitable Contributions and Estates
View Course Description
Level: Advanced | Available Format:
Classroom
Times: 8:00 a.m. - noon; 12:30 p.m. - 5:30
p.m.
Date(s): Thursday, May 14, 2020 - Friday, May 15, 2020
Contact Hours: 18 Instructional Hours & 0 Exam Hours
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 and
the various definitions from the Code of Federal Regulations (CFR) and compares
them.
The course also looks at the new regulations and requirements of a
personal property appraisal for non-Cash Charitable Contributions as well as the
requirements for estate tax filing.
Because not all requirements derive from the regulations, this
course provides information on the outcomes of numerous tax court cases
that have an impact on appraisal requirements. Class participants will read and
discuss several of the precedent-setting tax court cases.
Included in the course are explanations of the concepts of fractional
donations; ordinary income and capital gains property; the selection of
appropriate market and 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.
Course Materials
Attendees will receive hard copies of the course materials at the
class.
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 Foundation’s webpage for more information and to download an application.
Sandra J. Tropper, FASA
Location Bethesda, MD United States
Sandra Tropper, ASA, owner of Artemis, Inc., is an Accredited Senior Appraiser of Fine Art based in the Washington, D.C. area. She has worked as an appraiser and art consultant for over 25 years and has completed appraisals for estate tax calculation, estate and financial planning, insurance coverage and loss claims, division of property and non-cash charitable contributions. She has completed donation appraisals for properties that have been gifted to such institutions as the National Gallery of Art, the National Portrait Gallery, the Houston Museum of Fine Art, the Phillips Collection and the Corcoran Gallery of Art. Ms. Tropper has a BA in Art History and Political Economy from Sweet Briar College, and an MA from George Washington University in Art History. In addition, she has an MA in International Studies from the Johns Hopkins University Paul Nitze School of International Studies. She is an active member of the American Society of Appraisers. After serving for the ASA for four years as the Chair of the Personal Property Committee and nine years as Chair of Personal Property Education, she is now on the Society’s Board of Governors. She served on The Appraisal Foundation Advisory Council as the ASA representative for nine years and chaired the Council in 2011. Ms. Tropper is an instructor for the ASA Principles of Valuation courses at numerous universities. She is also an AQB (Appraiser Qualification Board) certified USPAP (Uniform Standards of Professional Appraisal Practice) instructor.
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