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Fair Tax Deduction for Donated Art
10.21.2005
A number of art organizations depend on donations to make ends meet and the artists associated with those organizations often donate artwork for fundraising auctions. However, those artist are not allowed to take a tax deduction for the fair market value of works that they created and donated. They can only deduct the cost of the materials used to create the works, whereas if a non-artists donated a peice of art from their own collection they could deduct the works’ full value. Urge Your Members of Congress to Support a bill that would correct the inequity under which artists now labor by visiting 'Americans for the Arts' (ArtUSA.org) website and filling in there 'Take Action Now' form. Americans for the Arts is a nonprofit organization for advancing the arts in America. There are 1 Comments for Fair Tax Deduction for Donated Art
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