Valuing Your Horse For Donation
The donor is solely and exclusively responsible for assessing the value of the horse that s/he donates to Replay Polo. The Internal Revenue Service requires that each donor complete IRS Form 8283 and submit it with one’s annual tax return for any horse that is donated to Replay Polo that has a $500 value or more. For any horse that has a value in excess of $5,000, the IRS requires the value be substantiated by an independent, written appraisal which should be completed before your donation (while the horse is still in your care, custody and/or control). Please speak with your own tax professional as Replay Polo cannot provide specific instruction to you on what your horse’s value may be. Here are the Instructions for completing IRS Form 8283. https://www.irs.gov/pub/irs-pdf/i8283.pdf
Please note that whatever value you place on your horse at the time it is donated may not have any bearing on the adoption fee that our organization may charge a person wishing to adopt one of our horses. The two are separate and independent evaluations and Replay Polo has no obligation to discuss or share with the donor what the adoption fee may be or when the horse may be put up for adoption. Replay Polo has to evaluate multiple factors in setting the adoption fee which include, but are not limited to, the horse’s age, health, soundness, mental capacity for a new career, training costs, size, board costs, and how long it may take to have a particular horse adopted. Cash donations made in conjunction with the equine donation are critical to ensuring that each horse receives the requisite care and training it needs in order to transition to a new career and new home.