From: Jeffrey Epstein <[email protected]> To: "McCaffrey, Carlyn" Subject: Re: Date: Sun, 26 May 2013 10:45:42 +0000 i will call you then, I m looking for income tax reduction, . willing to part with the art over time, have many appreiciated assets. thought maybe some combo of art and appreciated stock, so that we can pay the income with the appreciated stock and the museum gets the painting at the end? On Sun, May 26, 2013 at 6:40 AM, McCaffrey, Carlyn < > wrote: Dear Jeffrey, The answer depends on Leon's objectives. If he's interested in selling the art and deferring tax on the gain, we could consider a Nimcrut. But his charitable deduction would likely be limited to his basis. If he's interested in obtaining a full income tax deduction, and is not looking to retain any economic interest in the art, we could consider outright gifts to one or more museums to a private operating foundation controlled by him. In each case, the donee would agree to use the donated art in furtherance of its charitable purpose. I'll be back in the US next Friday if you'd like to discuss this topic. Best Carlyn Carlyn S. McCaffrey I Partner McDermott Will & Emery LLP 1 340 Madison Avenue, New York, NY 10173 From: Jeffrey Epstein [mallto:jemacationegmail.com] Sent: Saturday, May 25, 2013 3:05 PM To: McCaffrey, Carlyn Subject: EFTA00961103