Donatons
Posted: Sun Mar 28, 2004 3:09 am
There has been some information in the past on new new IRS regulatiions on artists donations of art works. Does anyone know what has happened to these bills?
Hary
Hary
This bill, which would allow artists to deduct fair market value for donations (instead of materials cost only, the current law), was passed by the Senate but has not been passed by the House of Representatives. According to the House's website, it is still stuck in committee.
If you're interested in the details, Search on H.R. 7 from this page: http://thomas.loc.gov/bss/d108query.html
Maybe next year......