Bradford Cohen, Sarah Johnson, and Charles Kolstad published "Estate and Tax Guidance for Artists and Collectors" in the May 2014 edition of Los Angeles Lawyer.
The struggling artist has never had an organized lobby in Congress, a fact reflected in the Internal Revenue Code's different treatment of artists and art collectors. While based in logic, certain code provisions can leave artists feeling jilted, especially when compared to the tax treatment of their patrons, the art collectors. Lawyers who represent artists or collectors should therefore be aware of how tax rules affect artists and collectors differently.
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