Sales and Donations of Self-Created Art, Literature and Music

33 Pages Posted: 18 Feb 2020 Last revised: 25 Feb 2020

See all articles by Joel S. Newman

Joel S. Newman

Wake Forest University - School of Law

Date Written: November 19, 2015

Abstract

IRC Section 1221(b)(3), the Songwriters Capital Gains Tax Equity Act, should be repealed. It gives musical composers a tax advantage over artists and writers, with no justification.

The Artist-Museum Partnership Act, which has been proposed for many years, should be enacted. However, it should be limited to donations of tangible property.

Keywords: tax, capital gains, art, music, literature, charitable contributions

JEL Classification: H24

Suggested Citation

Newman, Joel S., Sales and Donations of Self-Created Art, Literature and Music (November 19, 2015). Pittsburgh Tax Review, Vol. 12, No. 2, 2015, Available at SSRN: https://ssrn.com/abstract=2701412

Joel S. Newman (Contact Author)

Wake Forest University - School of Law ( email )

P.O. Box 7206
Winston-Salem, NC 27109
United States

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