The work is on a long-term loan to a major museum in NYC. Why don't the heirs just donate it and take the charitable deduction to offset the tax? Because given their income and the limits on deductions, they would only be able to deduct a small part of it each year, still leaving them with a huge tax bill.It would be interesting to see what the IRS would allow for a charitable deduction as compared to what they value it for estate tax purposes.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra