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https://www.nolo.com/legal-encyclopedia/tax-deductions-artists.html
A self-employed artist may deduct any expense that is: directly related to the art activity; ordinary and necessary, and; not lavish or extravagant under the circumstances. Common deductions by artists include the following: Business Travel: Artists often travel out of town, or even out of the country, to work or show their art. You may deduct all reasonable expenses you incur when doing so.
https://www.artworkarchive.com/blog/the-artist-s-guide-to-tax-deductions
Any hard materials you use to make your artwork can be deducted from your taxes. This includes your supplies, raw materials, electricity that might be used to create your work, and frames. These materials are generally things you use up within the year (think paint, clay, glaze, canvases, etc.)
https://www.bnymellonwealth.com/articles/strategy/how-to-make-tax-deductible,-charitable-donations-of-artwork.jsp
Artwork must be considered long-term capital property to qualify for a tax deduction. So don't purchase a work of art with the intention of donating it so you can take a deduction that same year. In order to claim a work's current fair-market value as the value of the charitable deduction, you must have held the property for longer than one year.
https://www.hurdlr.com/resources/industry/artist
ARTIST DEDUCTIONS. OTHER, TAXES & LICENSES Foreign Earned Income Tax Exclusion. In order to be eligible for the foreign earned income credit, you must meet certain requirements. Read what those requirements are here. OTHER Returns Discounts Tax Deduction.
https://www.freelancetaxation.com/deductions-artists
Artists: Use this list to help organize your art tax preparation. This is a basic list of typical expenses incurred by artists. You may have others. Art supplies Books, magazines, reference material Business gifts Business insurance Business meals Cabs, subways, buses Copying, printing Cultural events/ museum entrance fees Entry fees Equipment and software Film & processing […]
https://itsartlaw.org/2019/09/18/art-donations-101/
Sep 18, 2019 · Professional artists—i.e. artists who can demonstrate having gained a profit from their artworks—can generally deduct the cost of materials used to create an artwork from their taxable income as a business expense rather than a charitable donation.
https://hyperallergic.com/467166/no-you-cant-get-a-tax-deduction-for-artwork-you-donate-to-charity/
Oct 24, 2018 · The artist can take a deduction only for the cost of materials, not the labor. But for most artists, the value of the work derives mainly from the labor that they put into it…
https://www.thetaxadviser.com/issues/2016/apr/charitable-contributions-of-artwork-primer.html
When a taxpayer donates capital gain property, such as artwork, to a 50% limit organization (including a private operating foundation), the IRS gives the taxpayer two options. The taxpayer can use the general rule from Sec. 170 (b) (1) (C) (i)—deduct the FMV of …
https://pocketsense.com/artwork-tax-writeoff-9018.html
Nov 06, 2018 · When you donate art to a not-for-profit organization, you typically get to deduct its fair market value at the time of the donation rather than what you paid for it, so if the art went up in value while you owned it, you could end up with a very large deduction. You'll need to own the art for at least one year to be able to write off an increased value, and you can write off only up to 30 percent of …
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