What type of appraisal do I need for the IRS?
The IRS will accept a variety of report types depending on the scope of the assignment. It is best to discuss your specific requirements with the appraiser. The General Purpose Appraisal Report is usually sufficient, but there are also more economical options that may be more appropriate.
If the property is worth more than $10,000,000 or if the intended use requires a more in depth report, in those limited instances you may need to hire a Certified General Appraiser. You will also need a Certified General Appraiser for commercial property or for multi-family properties of 5 units or more. If you are unsure of what form to use, our staff can help you to determine the best option.