Art and Collectibles Capital Gains Tax Treatment Parity Act

Summary

Art and Collectibles Capital Gains Tax Treatment Parity Act - Amends the Internal Revenue Code to: (1) eliminate the 28-percent capital gains tax rate for collectibles, thus allowing gain from the sale of collectibles (including art works) to be taxed at the 15-percent tax rate applicable to other investment property; (2) allow the creator of a literary, musical, artistic, or scholarly property a fair market value tax deduction for the donation of such property to a tax-exempt organization, if properly appraised and donated no sooner than 18 months after its creation.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 24 January 2007

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 24 January 2007

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• Introduced in Senate

  summary · EN · 24 January 2007

  Open at official source

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