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PotatoBus t1_j97g92y wrote

Reply to comment by imnotsoho in Jeff Koons: Visitor breaks iconic Balloon Dog sculpture in Miami by kangarooturd

Capital gains may come into play, but I'm not an accountant.

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sighthoundman t1_j99z5id wrote

But if you donate it to a museum, you can donate the full $20 million AND not be taxed on the increase.

Changing that was considered when they changed the law from you deducting the blue book value of your donated car to only the amount actually received. Apparently the museum lobbyists are better than the PBS lobbyists.

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