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- Donating artwork to a public charity, such as a museum or university with public charity status, can entitle you to deduct the artwork’s full fair market value1. If you donate art to a private foundation, however, your deduction will be limited to your cost1. Museums often accept donated artwork to add to their collections2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Donations of artwork to a public charity, such as a museum or university with public charity status, can entitle you to deduct the artwork’s full fair market value. If you donate art to a private foundation, however, your deduction will be limited to your cost.www.mjcpa.com/the-tax-deduction-ins-and-outs-of …You have several choices when donating artwork. If you want the benefit of a tax deduction, you may donate artwork to a museum’s collection or a public charity. Museums often accept donated artwork to add to their collections, but you should keep a few things in mind.easydonationpickup.com/blog/donate-artwork/
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