Tangible Personal Property

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3 Mar 2010 | Tangible Personal Property | National Publication | News story | 6 comments
Simpson Gift Not Well Suited for Smithsonian
The Smithsonian Institution in a two-sentence statement has declined accepting the suit worn by O.J. Simpson on the day he was acquitted of the murders of Nicole Brown Simpson and Ronald Goldman.
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19 Aug 2009 | Legislative , | Tangible Personal Property | National Publication | News story
Heard on the Web: Fractional Gift News
Writing for The Art Law Blog, New York attorney Donn Zaretsky analyzes S. 1605 and its implications for charitable contributions of fractional interests in tangible personal property.
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21 Oct 2008 | Tangible Personal Property | Partnership for Philanthropic Planning, National Publication | Article | 1 comments
The Art of Donating Art: The Charitable Contribution of Art, Antiques...

When considering their charitable options, many donors overlook giving assets that can provide the greatest tax benefits. In this article from the Journal of Practical Estate Planning, Orange County, California attorney Joy Gibney Berus discusses several...
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1 Nov 2007 | Tangible Personal Property | National Publication | Article | 3 comments
Rush Limbaugh and Sen. Reid Duke it Out for Charity
Despite the old adage warning against discussing politics in polite company, we just couldn't resist the partisan throw-down that happened between Sen. Harry Reid and radio talk show host Rush Limbaugh during the past few weeks that resulted in a $4,200,200 gift to...
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16 Feb 2007 | Tangible Personal Property | National Publication | News story
Art Dealers Group Suggests Changes to Appraiser Requirements in...
Writing for the Private Art Dealers Association, Robert Dance has suggested that experience be considered for purposes of meeting the "qualified appraiser" requirements under appraisal compliance guidance, noting that an educational requirement might disqualify some of...
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15 Feb 2007 | Tangible Personal Property | National Publication | Article | 2 comments
Reflections on Deductibility of Contribution of Items of Tangible...
The tax law surrounding charitable contributions of tangible personal property such as artwork to museums has long been subject to vigorous debate among taxwriters. In this article, Connecticut attorney James B. Lyon reviews the evolution of these rules with emphasis...
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14 Dec 2004 | Tangible Personal Property | National Publication | News story
Alexander Discusses New Used Car Donation Rules
In a December 7 letter to Gregory F. Jenner, Treasury acting assistant secretary for tax policy, Donald C. Alexander, former IRS commissioner, discussed the new used car donation rules under section 884, specifically whether new procedures under subsection (f)(12)...
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8 Dec 2004 | Tangible Personal Property | National Publication | Article | 5 comments
A Hole in the Water: A Tale of the Yacht Donation
It has been said the two happiest days in the life of a boat owner are the day they buy their pride and joy and the day they sell it. There might be a third--the day they give it away! In this tongue-in-cheek cautionary tale, recovering boat owner and PGDC Editor Marc...
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16 Nov 2004 | Tangible Personal Property | National Publication | Article | 7 comments
Donating Art: Ten TIPs Every Planner Should Know
Cash donations, as long as the actual amount of the donation is substantiated, will not result in an IRS challenge. But donations of objects such as fine art and collectibles have always been problematic. In this article from Leimberg Information Services, Orange,...
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8 Apr 2004 | Tangible Personal Property | National Publication | Article
Artists, Tax Collectors, and Private Foundation Status
When it comes to estate planning, the estates of successful artists have a problem: Flooding the market with originals to raise money to pay estate taxes can have a depressing effect on not only the prices of the artwork being sold, but more importantly on the...
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2 May 2003 | Tangible Personal Property | National Publication | Technical Report
Tangible Personal Property

Because of its nearly infinite variety, tangible personal property is one of the most interesting types of property contributed to charity. This text defines tangible personal property, reviews the income tax rules associated with its transfer, discusses its...
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19 Jul 2000 | Tangible Personal Property | National Publication | Article
Expert Advice on the Donations of Art to Charitable Organizations

The Planned Giving Design Center is dedicated to discussing "the art of giving." In this edition of Gift Planner's Digest, New York art consultant Laurence C. Zale and attorney Philip T. Temple discuss "the giving of art."
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Define: Tangible Personal Property

Tangible personal property means any property, other than land or buildings, that can be seen or touched.

Recent activity

Simpson Gift Not Well Suited for Smithsonian

"Oh, come on, this one's a no-brainer. No doubt the suit will be accepted by the William Jefferson Clinton Foundation, and HUNG alongside the blue..." from Jeffrey Steele.
"Can we keep the comments relevant to planned giving and fund raising, please? I think the intent of posting this article was to highlight the..." from jonkraus.
"Given the circumstances, I think the best place for that suit is for it to be anonymously dropped off at a not for profit used clothing store with no..." from kmk1092.
"Oh my goodness! What other organization would take that suit? I can't even imagine who and what they would do with it. I don't see it as a raffle..." from DObedzinski.
"After the debacle that was The People of CA v. Orenthal James Simpson, he should have faced federal charges of conspiracy in that it was almost..." from blazekdk.
"Maybe the gloves should be in the Smithsonian." from Jim Cross.

A Hole in the Water: A Tale of the Yacht Donation

"Dawn is absolutely correct! A good 3rd party charitable auto (auction) organization can take care of all the paperwork and streamline donations of..." from Debbie Eliason.
"Let this be a lesson to all in development: every nonprofit needs to have a gift acceptance policy in place to avoid such embarrassing situations...." from Maggie Thompson.
"Marc, what a great article on yacht donations! And funny to boot. I began my career 21.5 years ago by starting a yacht donation program for an..." from John Scibek.
"In another life with a YMCA camping program, boat gifts were fitting, full of surprises, and always a reminder that a boat is a hole in the water..." from Roger Ellison.

Rush Limbaugh and Sen. Reid Duke it Out for Charity

"This is an excellent article, which highlights the importance of donating non-cash gifts before the assets are sold. This recognition prompted the..." from aminnich.
"As it turned out, the winning bidder was Betty Casey, who is a trustee and was bidding on behalf of the Eugene B. Casey Foundation, a private..." from Marc Hoffman.
"Just a quick note to add that the website of the charity to which the Limbaugh donation was made, Marine Corps Law Enforcement Foundation, is worth a..." from Craig Hastings.

The Art of Donating Art: The Charitable Contribution of Art, Antiques and Collectibles

"Good article. Very clear . Suggest that there are other ways of engaging in a bargain sale that don't involve a sale to the charity. For instance,..." from Richard Lamport.

Reflections on Deductibility of Contribution of Items of Tangible Personal Property to Museums

"From James B. Lyon: Richard, If a donor of a work of art owns both the work and the copyright thereto, he must donate both to qualify for his..." from Marc Hoffman.
"I am curious why the copyright-related comment was added to the advice "The deed of gift should be of the object and any copyright interests relating..." from Richard Hunt.

Donating Art: Ten TIPs Every Planner Should Know

"Regarding Tip #7, does a bargain sale result in the same deduction regardless of the charity, or does the related use rule still apply? For example..." from Brent Kellenberger.
"The anticipated donation is over $20,000.00. Please review Tip #8 again in my article, and Form 8283 and IRS Publication 561." from Joy Berus.
"If a client donates to a qualified charity for a related use an object he has purchased for $25,000 within the last 6 months, would the client's cost..." from Karen Raven.
"Thank you for this will written, excellent overview. I found it very helpful." from Mark Larkin.