Tax break sought for collectibles
A congressional effort is afoot to put art and collectibles on equal footing with other investments when it comes to capital gains.
A congressional effort is afoot to put art and collectibles on equal footing with other investments when it comes to capital gains. S 374, which was referred to the Finance Committee, also would provide a tax deduction for charitable contributions of literary, musical, artistic or scholarly compositions created by the donor. Similar bills, S 548 and HR 1524, also are awaiting committee action. For better details, visit http://thomas.loc.gov
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