12.3 Tangible Personal Property
| Library | A Lawyer's Guide to Estate Planning: Fundamentals for the Legal Practitioner (ABA) (2018 Ed.) |
12.3 Tangible Personal Property
Tangible personal property creates fewer problems in valuation. Automobiles, jewelry, household furniture and furnishings, and other tangible personal property are valued by the market data approach. The IRS prefers a room-by-room itemization, with each article that has a value of $100 or more listed separately. Those items having values of less than $100 may be grouped together for valuation. In lieu of a detailed listing, the executor can have the property professionally...
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