3.19.2008

Deducting the Fair Market Value of Your Art

Please take a moment to send an email in support of The Artist Deduction Bill S. 548 and HR 1524. This Bill would give artists the right to deduct the fair market value of their work when donated to museums and other non-profit organizations.

Click HERE to support this bill. Americans for the Arts has created a user-friendly format for you to contact your representatives. The e-form fills in the appropriate legislators as soon as it knows your zipcode. It will take one minute.

2 comments:

Anonymous said...

Yay Joanne! Thanks for including that link. This is an issue that really sticks in my craw.

Oriane

matthew said...

I agree with the intention of this bill, HOWEVER it does not go far enough. In order to claim "fair market value", you must have the work appraised.

For the typical artist, donating to the typical fund-raising auction for the typical arts organization (that is, most of us), the cost of the appraisal will outweigh the tax benefits of said deduction.

I have signed the petition, but I made sure add language to the standard form to tell my representative that it didn't help most of us.