On Mon, 13 May 1996, Ivy Strickler wrote:

> This is even more interesting! I agree totally, but is there any kind of
> legal paragraph somewhere that someone can supply?

According to Marie Malaro (A Legal Primer on Managing Museum Collections)
IRS Publication 526 "Income Tax Deductions for Contributions" should be
helpful.  She also cites IRS Code 170(e)(1)(B) and IRS Regulations
1.170A-4(b)(2).

I will have a look at IRS Pub. 526 and post it to the list if I see
anything of interest.

Remember, the IRS code doesn't say that a gift must be used forever.
Disposing of a gift, even within two years, therefore doesn't
automatically disqualify the deduction.  But if the intent from the start
is simply to facilitate the deduction, rather than the institutional
mission, and if there's a pattern of such donations and disposals, etc.,
etc., then there could be problems.  Presumably one could cobble together
a rationale that the pieces were "used" while they were in the
institution's possession -- but give the IRS credit for some common sense.

Andy Finch
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AAM Government Affairs
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