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senate bill lets artists claim price for gifts

updated wed 23 nov 05

 

Bobbruch1@AOL.COM on tue 22 nov 05


There is an article in today's
New York Times on a bill that
just passed in the Senate that
would allow living artists to get
a full market value for donations
to certain organizations.

Before anyone gets overly excited
about this, the House version of
the tax bill does not contain this
provision.

"Under the bill, artists could donate
their work during their lifetimes at
full market value provided that it is
properly appraised and handed over
at least 18 months after it is created."

Bob Bruch