- Historic Sites
Appraisals And Revenooers
If you plan to give your books or manuscripts to your alma mater, do not—repeat, not—try to bamboozle the tax examiner. Uncle Sam is watching you, and his agents may be shrewder than you think
June 1966 | Volume 17, Issue 4
I share with most persons who have a genuine affection for the printed or written word the sense of uneasiness that comes from hearing dealers, collectors, and institution officials discuss an item as an investment in the same sense one would discuss a stock. When you buy a book or an autograph you invest in incredible adventure, excitement, and mystery. Where else can you spend your money so wisely? Spend it, then—wisely, freely, foolishly, carefully—it’s your money. But don’t try to make it back at the expense of your uncle in Washington. For I assure you that there isn’t any dodge that some sharp mind in the Internal Revenue Service hasn’t heard about. This doesn’t mean that some people haven’t gotten away with it. But the day of reckoning is drawing closer; when it comes, all of us, the calculating and the naïve, the bad and the good, will be asked to pay the price.