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deduction of sef-created artwork

how to enter deduction of self created artwork to charity? tthe program is not letting us enter i.e. put in all the numbers and it shows up as zero! Please help

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2 Replies

deduction of sef-created artwork

Please describe " ...  put in all the numbers ..."; What numbers, where in the interview?

NB: Unless you have a Qualified Appraisal - which has a fairly strict definition - the value of such donations is normally limited to cost of materials ...

Anonymous
Not applicable

deduction of sef-created artwork

The people who create the art are only entitled to deduct the cost of the materials that went into the work. But artists (and writers and photographers) deduct the cost of all their supplies in the year they incur them. Thus the net effect of this is that the contribution that can be deducted by an artist for the gift of a work of art is zero. 

 

In other words you can't get a double deduction.  you expensed the costs of the material as a business expense.     thus you are not entitled to a charitable deduction for the same costs.    even an appraisal would not change the results.      

 

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