US Congress Considers Tax Break For Donated Artwork

A change in the American tax law would allow artists to get tax deductions for the full value of artwork they donate to museums. “Now, for example, if a collector gives his Jasper Johns paintings to a museum, he can deduct their full market value. But if Jasper Johns gives the paintings he made himself, he can deduct only the cost of the materials used to make them. Ironically, when their creators die, these same items suddenly gain conventional market value for estate-tax purposes. Definitely out of whack!”