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Deducting Charitable Art Donations

Avoid pitfalls and pratfalls—seize windfalls.

Girl With a Balloon by British street artist Banksy was shredded in its frame seconds after the winning telephone bid of $1.4 million at a Sotheby’s London auction on Oct. 6, 2018. The prank—believed to be arranged by the artist himself—was accomplished by a remote-control device at the back of the frame. The artwork can be restored and is believed to now be worth more than the winning $1.4 million bid! 

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