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[teacherartexchange] tax break for art donations

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From: Jean Womack (jeaneger_at_TeacherArtExchange)
Date: Tue Nov 22 2005 - 14:24:55 PST


I thought an article in today's New York Times might interest you. It's
about a tax break for art donations. The Senate has passed an amendment to
a tax relief bill. The bill has to go to committe now. The amendment
gives artists full value for donations of work, rather than the cost of the
materials. There are other qualifications, such as that it has to be
properly appraised and given within 18 months of creation.

What does properly appraised mean?

Jean Womack

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