"a museum that completes Form 8283 and then disposes of the object
within two years of the date of the gift also must file with the IRS a
completed Form 8282 (a form used to report donated property that has
been sold, exchanged, or otherwise dispsosed of) and send a copy to the
donor. If the appraised value of the donated object does not exceed $500
at the time of donation or if the museum uses, consumes, or distributes
the donated property in a way that is consistent with its tax-exempt
purpose (for example, transferring a painting to another institution),
then it is exempt from the IRS Form 8282 reporting requirement."

A further clarification:  Upon consulting the IRS Form 8282 Instructions and
a tax attorney, it appears that a form 8282 must be filed, as previously
stated, whenever a donee disposes of "charitable deduction property" with
the 2 year framework.  The two exceptions noted are correct: 1. if the value
is less than $500.00 or, 2. Items consumed or distributed for charitable
purposes.
The IRS uses the example of Medical Supplies donated, which are then
distributed by a tax-exempt relief organization to the victims of a
disaster.

I believe, and the tax lawer concurred, that transferring a painting to
another museum would NOT qualify.  In fact the purpose of the form is to
record transfer of an object to what IRS terms "successor donees", which is
exactly the case in the example of the painting.

Hope this helps make the waters perfectly turbid.


Rich White, Director
International Wildlife Museum

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