5 tips for donating artwork
Abstract: Valuable works of art may be ideal candidates for charitable donation. Generally, it’s advantageous to donate appreciated property to avoid capital gains taxes. Because the top capital gains rate for art and other “collectibles” is 28%, donating art is particularly effective. This article offers five tips to keep in mind, including getting an appraisal, being cognizant of the related-use rule, and considering a fractional donation.