Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Boat Donation and other Car Donation topics.
The IRS requires that you have a certified appraisal when you donate a boat worth more than $5,000. It is the donor's responsibility, not the charity's, to cover the cost.
To get an appraisal, donors will need to contact a marine surveyor, who will assess the boat's value with an on-board inspection.
The marine surveyor will estimate the fair market value and provide a written report after an on-board inspection of the boat, its equipment and systems.
If you need help finding a marine surveyor, you may want to contact the Society of Accredited Marine Surveyors, an industry group that offers a worldwide listing of members who can conduct apprasials for boat donations.