These questions concerning tax law are rather complex and I am not sure
we should be hearing any particular advice other than that a CPA should be
consulted regarding the specifics. There is an abundance of tax law &
caselaw about this - timing of when title of passage is recorded and the
specifics of moving donation - perhaps the gift was recorded, but the
item needed to be dismantled before it was moved - lots of details
suggest that only professionals in this area should offer advice. As a
reference librarian this kind of question suggests how detailed reference
work can become and sometimes a general response may be misleading.
Julia Gelfand, UC-Irvine Libraries
On Fri, 17 Nov 1995, John Handley wrote:
> I have dealt with this question in the past. The whole point of
> the question is determined by what date the museum takes
> "possession," of the piece. Posession can mean a couple of
> things, but it must include physical possession as well. If you
> have a letter from the donor stating their intent to give the
> piece in question, or if you have a log of dates and times when
> you have spoken to the donor about this donation, that record
> helps to show the donors intent. If the donor wants to take a tax
> deduction in '95, then the museum (or a museum representative such
> as a lawyer) must have physical possession of the piece by Dec.
> 31. The deed of gift can then state that the gift was made on such
> and such a date, but signed after that date.
>
> At my museum we use the date we physically receive a piece as the
> donation date. In some cases, the deed is not signed for a couple
> of months. Our deed of gift forms always state this date, for
> example:
>
> Objects (95.001.00001 - 95.001.00002) were donated to the Museum
> on November 1, 1995, by John Doe.
>
> Then each item is itemized, and the deed signed and dated by both
> parties. We also keep all letters, etc., as well as a log sheet
> recording telephone conversations, letters, etc.
>
> Hope this is helpful.
>
> John Handley
> San Francisco
>
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