Vermont Gem Lab

Estate Jewelry Appraisal

Estate Jewelry Appraisal may be required, by the IRS or your state, for estate taxes, equitable distribution, divorce settlement, or bankruptcy. These reports must be produced in accordance with bylaws and ethical standards set forth by the appraisal foundation, the IRS and state law. Consult your appraiser and attorney regarding the appropriate laws that pertain to your appraisal needs.

Documents that must be sent to the IRS for tax, donation, death, or divorce are required to be written by a qualified appraiser. A detailed description is required for all items, but an appraisal is not always required.

An appraisal by a qualified appraiser is required for estate taxes if any one item is valued at more than $3,000.00, or for any collection of similar articles that is valued at more than $10,000.00 (U.S. Treasury Regulation 20.2031 -6).

An appraisal by a qualified appraiser is required for donations when an individual item is worth more then $5000.00.  If the donated value exceeds $20,000.00, then a copy of the appraisal must accompany the form (IRS form 8283).