Page 178 - Wish Book

IRS Information and Documentation for Donations over $500
Please check with your own tax advisor on individual matters related to art donation. Here are some guidelines for artists and other donors.
Artists who wish to donate their own work can only claim a tax deduction for the cost of materials and production.
If you plan to claim a value in excess of $500 for donated artwork, you must le an IRS Form 8283 with your tax return that year.
Any donation valued above $5000 will require that you obtain a quali ed ne art appraisal of the artwork and appraiser’s certi cation on IRS Form 8283.
As permitted by the IRS, artwork donated to MUSC Foundation may be auctioned after two years, to bene t the Art Acquisitions and Conservation Fund.