Just wanted to send you a quick note to let you know that State Farm has settled the claim with me, and that I was pleased with the settlement; apparently, just knowing that I was looking at Diminished Value as well was enough of an incentive for them to total the vehicle and make an attractive offer.
Thanks again for your help, I appreciate it.
Rich Boyd Chandler
Yes. On vehicles worth more than $5,000, the IRS requires a professional appraisal to receive your tax write-off. It is still recommended for vehicles under $5,000 to prevent any unnecessary scrutiny from IRS auditors.