December is HERE, which means Christmas is right around the corner!! With this season comes receiving or Giving Gifts and lots of Events…some may perhaps ask for Donations to help those who are less fortunate than others. If possible, perhaps you can donate the Fine Arts you no longer love; this is called Charitable Gifting, also known as Charitable Contribution. Passing your artwork to an organization, such as a school, church, museum, etc; is truly worthy on your part.

Charitable Gifting: There are certain tasks You, the Doneé will have to do before you can Gift. Don’t worry… it is not too much work on your part. The first thing you will need to do is have your Fine Arts Appraised. Why, you may ask? Well, there is more benefits to gifting than knowing you have helped a cause…. You may possibly get a Tax Deduction the year you “Gifted”, but you have to have a Credited Appraiser sign the legal document, Form 8283.  Merry Christmas to you as well!

IRS Regulations: There are a few IRS regulations You should remember:

  • You can only give to an Organization that is Qualified with the IRS. These are non-profit organizations, such as religious, charitable, educational, scientific, literary in purpose, or that work to prevent cruelty to children or animals. (Publication 526, Page 2) Your item must connect with this organization in some manner. This is the Newest Tax guideline.
  • Your Deduction for Contributions on Fine Arts should be Supported by a written appraisal from a Qualified and Reputable source. (Unless deduction is $5,000 or less)
    • If your Fine Arts is valued at $20,000 or more then you must turn in a copy of the Appraisal along with your Form 8283, which the Appraiser needs to sign, attached to your Return.
    • $50,000 or more means you may Request a Statement of Value for the item from the IRS. You must request this form before you File your Tax Return. (Publication 561, Paintings, Antiques, and Other Objects of Art)
  • You must have a Completed Appraisal on the gifted item, from a Qualified source in the Art Industry, in order for the IRS to allow your Tax Deduction. If you were not aware of this at the time of gifting, then make sure you get the artwork appraised no later than 60 days after the gifting. Once the 60 day grace period has ended, you may very well not be able to take your Tax Deduction.
  • Those who may Not appraise your artwork include, but not limited to, the art dealer from whom you purchased your Fine Art, the Publisher, nor the Printer who produced the Print Edition.

If you have further Questions or would like anything Clarified, we would be happy to be of assistance to you. Call us at 619-929-6192, or email us at

Please note; we continue to Follow and Stay Updated on all Regulations where Fine arts are concerned, from the I R S to the International Society of Appraisers and others. We stay updated not only for us, but for you as well. When you hire us to do an Appraisal or Restoration, then you can rest easy that we know what we are doing. We will take care of You.

Please be sure to speak with your CPA advisor on everything you have read here in our blog: “Charitable Gifting: What You Need to Know”. We are not accountable for the IRS not accepting your Form 8283, nor giving you the Tax Deduction you were hoping.

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