Tax victory for artists
From the New York Times:
If you say you are an artist, but you make little money from selling your art, can your work be considered a profession in the eyes of the Internal Revenue Service?
In a ruling handed down late last week by the United States Tax Court and seen by many as an important victory for artists, the answer is yes. The case involved the New York painter and printmaker Susan Crile, whose politically charged work is in the collections of the Metropolitan Museum of Art, the Guggenheim Museum and several other major institutions. In 2010, the I.R.S. accused Ms. Crile of underpaying her taxes, basing the case on the contention that her work as an artist over several decades was, for tax-deduction purposes, not a profession but something she did as part of her job as a professor of studio art at Hunter College.