No, You Really Can't Get a Deduction for that Artwork You Donated to Charity

Some arts organizations misleadingly suggests that artists can get tax deductions for works they donate to charity. Here’s why that’s unfortunately not the case.

Last month, I wrote about how the tax law passed in 2017 — officially the Tax Cuts and Jobs Act (TCJA) — will soon bring big changes to charitable giving.

Based on reader feedback, I now want to address a longstanding practice regarding charitable giving in the art world that needs to end. …read more…