Would people create art in order to donate it to some institution for personal financial gain?
No, only a relatively small number of people would be eligible under this bill, since all deductions must be claimed against income earned from artistic activity. Non-artists would not have such income. In addition, material created purely for a deduction would unlikely be accepted by a library, archive, or museum. Museums, for example, reject over 90 percent of what is offered to them because of quality, incompatibility with the collection, cost of preservation and storage, or a belief that the work will never be shown or studied. 3. Since art is so subjective, will it be difficult to establish a fair evaluation? No. For gifts over $5,000, taxpayers must obtain a qualified appraisal to substantiate the amount of the proposed deduction. Appraisals cannot be delivered on a whim: they must take into account the actual, objective record of free market sales of similar work by the creator. Moreover, when the IRS conducts audits, panels of experts review those appraisals to assess whether t
