(4) Works of art and their copyrights treated as separate properties in certain cases.— (A) In general .— In the case of a qualified contribution of a work of art, the work of art and the copyright on such work of art shall be treated as separate properties for purposes of paragraph (2). (B) Work of art defined .— For purposes of this paragraph, the term “work of art” means any tangible personal property with respect to which there is a copyright under Federal law. (C) Qualified contribution defined .— For purposes of this paragraph, the term “qualified contribution” means any transfer of property to a qualified organization if the use of the property by the organization is related to the purpose or function constituting the basis for its exemption under section 501. (D) Qualified organization defined .— For purposes of this paragraph, the term “qualified organization” means any organization described in section 501(c)(3) other than a private foundation (as defined in section 509). For purposes of the preceding sentence, a private operating foundation (as defined in section 4942(j)(3)) shall not be treated as a private foundation.
