<div dir="ltr">Hi John, thanks for that information. I found information about Forms 8282 and 8283, which I believe are informational returns for noncash charitable contributions. And, for artwork over $5,000, it appears that an appraisal is needed. Is that correct?<div><br></div><div>And, someone who came to the auction purchased the artwork, and my understanding is that he is able to deduct any excess amount he paid over the FMV... Do we need an appraisal to provide a receipt to the purchaser?</div><div><br></div><div>Thanks so much~</div><div><br></div><div>Best regards,</div><div><br></div><div>Jennifer</div></div><div class="gmail_extra"><br><div class="gmail_quote">On Thu, Feb 16, 2017 at 12:26 PM, John Creahan <span dir="ltr"><<a href="mailto:john@cairn-law.com" target="_blank">john@cairn-law.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">







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<p class="MsoNormal"><span style="color:#595959">Jennifer,<u></u><u></u></span></p>
<p class="MsoNormal"><span style="color:#595959">If I’m not mistaken, the charitable deduction for an artist donating her own artwork is limited to her basis – she will not receive a fair market value deduction – so I don’t think an appraisal is necessary.
<u></u><u></u></span></p>
<p class="MsoNormal"><span style="color:#595959">Hope this helps,<u></u><u></u></span></p>
<p class="MsoNormal"><span style="color:#595959">John<u></u><u></u></span></p>
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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Tw Cen MT",sans-serif;color:#595959">John Creahan</span><span style="font-family:"Tw Cen MT",sans-serif;color:#595959"><u></u><u></u></span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><span style="font-family:"Tw Cen MT",sans-serif;color:#595959"><a href="http://www.cairn-law.com/" target="_blank"><span style="color:#595959">www.cairn-law.com</span></a><br>
</span><b><span style="font-family:"Tw Cen MT",sans-serif;color:red">Now located in the heart of Fremont<br>
</span></b><span style="font-family:"Tw Cen MT",sans-serif;color:#595959">3417 Evanston Ave. N, Suite 312<br>
Seattle, WA 98103<br>
<a href="tel:(206)%20578-5877" value="+12065785877" target="_blank">206-578-5877</a></span><span style="font-family:"Tw Cen MT",sans-serif;color:#4f6228"><u></u><u></u></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com" target="_blank">wsbapt-bounces@lists.wsbarppt.<wbr>com</a>
 [mailto:<a href="mailto:wsbapt-bounces@lists.wsbarppt.com" target="_blank">wsbapt-bounces@lists.<wbr>wsbarppt.com</a>] <b>On Behalf Of </b>Jennifer Y. Sohn<br>
<b>Sent:</b> Thursday, February 16, 2017 12:20 PM<br>
<b>To:</b> 'WSBA Probate & Trust Listserv' <<a href="mailto:wsbapt@lists.wsbarppt.com" target="_blank">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBAPT] Valuation of artwork donations<u></u><u></u></span></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d">Hi, I have a non-profit organization client who holds annual auctions for fundraising. An artist donated her painting for the event, and I am wondering how we
 go about sending a receipt for the painting. The client is a small non-profit, and wanted to see if there are alternatives to getting a formal appraisal. If one is required, do you have any referrals to appraisers?<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d"><u></u> <u></u></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d">Thanks.<u></u><u></u></span></p>
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<span style="font-family:"Arial",sans-serif;color:#222222;background:white">-- </span><u></u><u></u></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black">Best regards,</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black"> </span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black">Jennifer Y. Sohn</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black">Attorney at Law</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black">(Licensed in CA and WA)</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black">Sohn Law PLLC</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black">10900 NE 4th Street, Suite 1850</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black">Bellevue, WA 98004</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black">Tel: <a href="tel:(425)%20522-3861" value="+14255223861" target="_blank">425.522.3861</a></span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black">Fax: <a href="tel:(425)%20732-9748" value="+14257329748" target="_blank">425.732.9748</a> </span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black">Email: <a href="mailto:jennifer@sohn-law.com" target="_blank"><span style="color:#0563c1">jennifer@sohn-law.com</span></a></span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black"><a href="http://www.sohn-law.com/" target="_blank"><span style="color:#0563c1">http://www.sohn-law.com</span></a></span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black"> </span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
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 This information is intended only for the use of the individual or entity to whom this electronic mail transmission was sent as indicated above. If you are not the intended recipient, any disclosure, copying, distribution, or action taken in reliance on the
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black"> </span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Georgia",serif;color:black">Circular 230 Disclaimer. Any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and may not be
 used, for the purpose of (i) avoiding penalties under the internal revenue code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><u></u><u></u></span></p>
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