Does anyone know where tax law currently stands on artists making donations of their own artwork?

I know that there have been several bills presented to Congress over the past few years, most recently in February of this year. However, I can't find any specific information on the status of this bill. So, I'm assuming that it has yet to make it through the system, which means that artists can still only deduct the cost of materials used to make a donated artwork, versus deducting the fair market value of the work.

Any knowledge you can share will be much appreciated!

Thanks,
Sara

Sara Rowe Hignite, Registrar
Mildred Lane Kemper Art Museum
Sam Fox School of Design & Visual Arts
Washington University in St. Louis
One Brookings Drive, Campus Box 1214
St. Louis, MO 63130
Tel. 314.935.5385; Fax 314.935.7282
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