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In December 2017, one of your clients, Tim Huffman, donated a valu-able piece of art to a local charity to be auctioned at its annual

In December 2017, one of your clients, Tim Huffman, donated a valu-able piece of art to a local charity to be auctioned at its annual fund-raising auction. When Mr. Huffman donated the art, it was appraised for $20,000. However, at the auction held on January 20, 2018, it sold for $35,000. Mr. Huffman claims that the appraisal was obviously wrong and that the value of what he donated was obviously $35,000. Conse-quently, he wants to deduct $35,000 on his 2017 tax return. Write a let-ter to Mr. Huffman discussing the tax implications of the appraisal and subsequent sale of the art he donated. Use the principles of effective document design discussed in this chapter. Chapter 9 discusses letter writing. Invent any information necessary to complete this assignment

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