To Patrick's historical note must be added the instance of former President
Nixon claiming a substantial tax deduction for the gift of his memorabilia
and private papers to a museum being developed in his honor. I don't
remember how he came at the appraisal, but the action triggered all kinds of
new restrictions on valuation and also what an ex-president could regard as
personal property. Now, all memorabilia of any value go to some government
repository, possibly the Smithsonian.
>COMMENT:
>
>Those of us around in the 1970s and early '80s will remember that there's
>a good reason for this rule.
>
>Apart from a couple of outright scams (one set up by Americans based in
London in fact - though as a US tax fraud) senior museum personnel were
>put under great pressure by potential donors (and sometimes by their own
>trustees) to inflate valuations -(snip) the history should be a reminder
of the
>need to be scrupulously careful lest abuses provoke another crack-down.
>
>
>Patrick Boylan