Timeline for Minimize taxes now that I earn more
Current License: CC BY-SA 4.0
3 events
| when toggle format | what | by | license | comment | |
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| Sep 21, 2019 at 14:42 | comment | added | Dugan | @aidan.plenert.macdonald possibly, I would consult an accountant before trying it. I don't see anything in the tax code about it though-- essentially you have to pay for the museum to hire an appraiser who determines the fair market value of the work. The amount that you paid to purchase the work doesn't enter into the equation as the value is determined primarily by the artist's reputation/previous sales/listed prices of their works. If the artist or gallery dealer wants to give you a discount on a work of art for some reason that's their business. | |
| Sep 21, 2019 at 1:50 | comment | added | user32205 | The discount trick sounds like fraud | |
| Sep 16, 2019 at 21:36 | history | answered | Dugan | CC BY-SA 4.0 |