(JTA) — Jared Kushner and Ivanka Trump failed to disclose to tax authorities a multimillion-dollar art collection they have amassed since 2009, an arts-focused news site reported.
Since their wedding in 2009, Kushner and Trump, both advisors to President Donald Trump, have acquired works by blue-chip and emerging artists, the report Thursday on Artnet said.
Yet in required financial disclosures, Kushner failed to report the couple’s art collection, according to the report.
A lawyer advising Kushner told Artnet that the art holdings, which were for “decorative purposes,” would be added to a new version of his disclosure form.
Ethics experts say that it’s not uncommon for administration officials to update financial disclosures with more information. The White House did not indicate when the new disclosure would be released.
The disclosure rules for federal employees on art are complicated, hinging on the distinction between works purchased for investment or for personal enjoyment. Federal employees such as Kushner are required to disclose artwork if it is held for investment purposes and is worth more than $1,000, according to the Office of Government Ethics.
The ethics office’s website says that artwork displayed for “decorative or artistic purposes” are “not normally” considered an investment.