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Date: | Wed, 27 Sep 1995 05:56:48 -0600 |
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Uh oh. As I understand it, the college paid for the appraisal of the
O'Connor letters that were written to Maryat Lee. Done deal, so there's no
changing it now...... ndb
In message Tue, 26 Sep 1995 14:48:32 -0500,
Estie Karpman <[log in to unmask]> writes:
> I have just had the IRS speak to my masters class and they would consider
> this a conflict of interest and a scheme to get around the law. My advice
> is to give the donor three qualified appraisors and let them make the
> choice and pay for it. If not tell them to leave the materials to the
> Museum in their will and their heirs will not have to pay taxes on the
> items.
> Estie Karpman
> Development Director
> Illinois State Museum
>
>
>> Hi folks, I have a legal question that I hope someone will be able to
>> answer.
>> We all know that the IRS does not allow museums to appraise collections
>> which they purchase or receive as a donation, but can a museum pay for
>> a professional appraisal of materials that are then donated or
>> purchased and for which the owner then takes a deduction?
>>
>> Any insight appreciated.
>>
>> Thanks,
>>
>> Bill
>>
>>
>> ***************************************************************************
>> Bill Lazenby Tel: 708-260-8187
>> Director of Museum Operations Fax: 708-260-9298
>> The First Division Museum at Cantigny E-Mail: [log in to unmask]
>> 1 South 151 Winfield Road
>> http://www.xnet.com:80~cantigny/fdm.htm Wheaton, IL 60187-6097
>> USA
>> ***************************************************************************
>>
>>
>>
>
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