Digital BW, The Print

In a juried process, I was selected to exhibit my (B&W) prints at a non-profit art center in VT 
(Northeast Kingdom.)  The prints are archival (carbon on cotton: MIS quadtone, HFA paper) 
and are professionally matted and (16x20) framed.  There will be 25 prints in the month-
long exhibit.

Since the center is in the midst of a fund raising effort, I'm contemplating donating the entire 
collection to their building fund, rather than trying to sell them.  Obviously, this raises the 
question of how to value the collection for tax purposes.

The materials cost to me of putting the collection together is about $150 per print, with no 
value given to my time or to the artistic value of the prints included.

So, if I am to claim a charitable deduction, how do I value the donation?  The center has 
agreed that $400 per print, or $10,000 for the collection, would be easily justified.

I'm looking for guidance from others who may have faced a similar situation.

TIA.

Harry

I first discovered this long ago when I contributed an entire body of
work of a Costa Rica Rain forest to the Nature Conservancy who
happened to be involved in the area.

I am told that my contributions of pieces to art auctions for
charities are only reportable to the IRS at the material cost of
production. This does not include my time of course, or any real
market value. It's only art, after all, and surely just a hobby for me.
The people who get the real tax benifit are the wealthy who made the
purchase, they can utitize the full amount of they spent at the
auction. After all, they had to get in their car and drive there and
all, dress, etc..

Welcome to America.

Make sure you are involved only because of the spirit of the thing,
that's what counts and it'll be difficult to otherwise take advantage
of your act of generosity.
Tyler

--- In DigitalBlackandWhiteThePrint@yahoogroups.com, "hflockwood"
<hflockwood@...> wrote:
>
> In a juried process, I was selected to exhibit my (B&W) prints at a
non-profit art center in VT 
> (Northeast Kingdom.)  The prints are archival (carbon on cotton: MIS
quadtone, HFA paper) 
> and are professionally matted and (16x20) framed.  There will be 25
prints in the month-
> long exhibit.
> 
> Since the center is in the midst of a fund raising effort, I'm
contemplating donating the entire 
> collection to their building fund, rather than trying to sell them.
 Obviously, this raises the 
> question of how to value the collection for tax purposes.
> 
> The materials cost to me of putting the collection together is about
$150 per print, with no 
> value given to my time or to the artistic value of the prints included.
> 
> So, if I am to claim a charitable deduction, how do I value the
donation?  The center has 
> agreed that $400 per print, or $10,000 for the collection, would be
easily justified.
> 
> I'm looking for guidance from others who may have faced a similar
situation.

> 
> TIA.
> 
> Harry
>

couldn't you just sell and purchase back your work on paper from someone and then dontate?

Tyler Boley <tyler@...> wrote:                                  I first discovered this long ago when I contributed an entire body of
 work of a Costa Rica Rain forest to the Nature Conservancy who
 happened to be involved in the area.
 
 I am told that my contributions of pieces to art auctions for
 charities are only reportable to the IRS at the material cost of
 production. This does not include my time of course, or any real
 market value. It's only art, after all, and surely just a hobby for me.
 The people who get the real tax benifit are the wealthy who made the
 purchase, they can utitize the full amount of they spent at the
 auction. After all, they had to get in their car and drive there and
 all, dress, etc..
 
 Welcome to America.
 
 Make sure you are involved only because of the spirit of the thing,
 that's what counts and it'll be difficult to otherwise take advantage
 of your act of generosity.
 Tyler
 
 --- In DigitalBlackandWhiteThePrint@yahoogroups.com, "hflockwood"
 <hflockwood@...> wrote:
 >
 > In a juried process, I was selected to exhibit my (B&W) prints at a
 non-profit art center in VT 
 > (Northeast Kingdom.)  The prints are archival (carbon on cotton: MIS
 quadtone, HFA paper) 
 > and are professionally matted and (16x20) framed.  There will be 25
 prints in the month-
 > long exhibit.
 > 
 > Since the center is in the midst of a fund raising effort, I'm
 contemplating donating the entire 
 > collection to their building fund, rather than trying to sell them.
  Obviously, this raises the 
 > question of how to value the collection for tax purposes.
 > 
 > The materials cost to me of putting the collection together is about
 $150 per print, with no 
 > value given to my time or to the artistic value of the prints included.
 > 
 > So, if I am to claim a charitable deduction, how do I value the
 donation?  The center has 
 > agreed that $400 per print, or $10,000 for the collection, would be
 easily justified.
 > 
 > I'm looking for guidance from others who may have faced a similar
 situation.
 > 
 > TIA.
 > 
 > Harry
 >
 
 
     
                       


  
  
  
 Incoming and outgoing mail scanned by AVG 
 www.grisoft.com
  


       
---------------------------------
Boardwalk for $500? In 2007? Ha! 
Play Monopoly Here and Now (it's updated for today's economy) at Yahoo! Games.

[Non-text portions of this message have been removed]

it's really just a way to contribute and one has to keep that in mind.
Some people can do that by buying things or contributing cash. I'm in
a better position to give work product than anything else, if I want
to help.
What I'm trying to say.. the payoff is doing somethng because you want
to, and not look too much to what other side benefits your involvement
may offer, like tax breaks etc..
If Harry's question involved a valuation for tax purposes, that was
what I was addressing. But there may be other reasons he needs a value
number.
Tyler

 --- In DigitalBlackandWhiteThePrint@yahoogroups.com, RobLee
<roblee007@...> wrote:
>
> couldn't you just sell and purchase back your work on paper from
someone and then dontate?
> 
> Tyler Boley <tyler@...> wrote:                                  I
first discovered this long ago when I contributed an entire body of
>  work of a Costa Rica Rain forest to the Nature Conservancy who
>  happened to be involved in the area.
>  
>  I am told that my contributions of pieces to art auctions for
>  charities are only reportable to the IRS at the material cost of
>  production. This does not include my time of course, or any real
>  market value. It's only art, after all, and surely just a hobby for me.
>  The people who get the real tax benifit are the wealthy who made the
>  purchase, they can utitize the full amount of they spent at the
>  auction. After all, they had to get in their car and drive there and
>  all, dress, etc..
>  
>  Welcome to America.
>  
>  Make sure you are involved only because of the spirit of the thing,
>  that's what counts and it'll be difficult to otherwise take advantage
>  of your act of generosity.
>  Tyler
>  
>  --- In DigitalBlackandWhiteThePrint@yahoogroups.com, "hflockwood"
>  <hflockwood@> wrote:
>  >
>  > In a juried process, I was selected to exhibit my (B&W) prints at a
>  non-profit art center in VT 
>  > (Northeast Kingdom.)  The prints are archival (carbon on cotton: MIS
>  quadtone, HFA paper) 
>  > and are professionally matted and (16x20) framed.  There will be 25
>  prints in the month-
>  > long exhibit.
>  > 
>  > Since the center is in the midst of a fund raising effort, I'm
>  contemplating donating the entire 
>  > collection to their building fund, rather than trying to sell them.
>   Obviously, this raises the 
>  > question of how to value the collection for tax purposes.
>  > 
>  > The materials cost to me of putting the collection together is about
>  $150 per print, with no 
>  > value given to my time or to the artistic value of the prints
included.
>  > 
>  > So, if I am to claim a charitable deduction, how do I value the
>  donation?  The center has 
>  > agreed that $400 per print, or $10,000 for the collection, would be
>  easily justified.
>  > 
>  > I'm looking for guidance from others who may have faced a similar
>  situation.
>  > 
>  > TIA.
>  > 
>  > Harry
>  >
>  
>  
>      
>                        
> 
> 
>   
>   
>   
>  Incoming and outgoing mail scanned by AVG 
>  www.grisoft.com
>   
> 
> 
>        
> ---------------------------------
> Boardwalk for $500? In 2007? Ha! 
> Play Monopoly Here and Now (it's updated for today's economy) at
Yahoo! Games.

> 
> [Non-text portions of this message have been removed]
>

When an artist donates a work of art that he or she created to a charity the 
artist's tax deduction is an amount equal to the cost of the materials that 
were used to create the work of art plus any other related out-of-pocket 
expenses incurred  (e.g. matting, framing, the IRS mileage rate for miles 
driven to and from the exhibit site or the auction,  etc.). Nobody in any 
field is allowed to deduct the value of their time.

----- Original Message ----- 
From: "hflockwood" <hflockwood@...>
To: <DigitalBlackandWhiteThePrint@yahoogroups.com>
Sent: Tuesday, June 12, 2007 11:09 AM
Subject: [Digital BW] Valuing Prints


In a juried process, I was selected to exhibit my (B&W) prints at a 
non-profit art center in VT
(Northeast Kingdom.)  The prints are archival (carbon on cotton: MIS 
quadtone, HFA paper)
and are professionally matted and (16x20) framed.  There will be 25 prints 
in the month-
long exhibit.

Since the center is in the midst of a fund raising effort, I'm contemplating 
donating the entire
collection to their building fund, rather than trying to sell them. 
Obviously, this raises the
question of how to value the collection for tax purposes.

The materials cost to me of putting the collection together is about $150 
per print, with no
value given to my time or to the artistic value of the prints included.

So, if I am to claim a charitable deduction, how do I value the donation? 
The center has
agreed that $400 per print, or $10,000 for the collection, would be easily 
justified.

I'm looking for guidance from others who may have faced a similar situation.

TIA.

Harry



Please visit the Group Homepage to check the Files, and other resources as 
they are often being updated.

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ALTERATION OF YOUR TRANSMISSIONS OR DATA; (iii) STATEMENTS OR CONDUCT OF ANY 
THIRD PARTY ON THE DIGITAL BW, THE PRINT YAHOO GROUP; OR (iv) ANY OTHER 
MATTER RELATING TO THE DIGITAL BW, THE PRINT YAHOO GROUP.

Yahoo! Groups Links

"The people who get the real tax benifit are the wealthy who made the
purchase, they can utitize the full amount of they spent at the
auction. After all, they had to get in their car and drive there and
all, dress, etc.."

Well of course they did a little more than just get dressed and drive to the 
auction - they laid out the money to buy the work of art that they donate to 
the charity.

----- Original Message ----- 
From: "Tyler Boley" <tyler@...>
To: <DigitalBlackandWhiteThePrint@yahoogroups.com>
Sent: Tuesday, June 12, 2007 12:36 PM
Subject: [Digital BW] Re: Valuing Prints


I first discovered this long ago when I contributed an entire body of
work of a Costa Rica Rain forest to the Nature Conservancy who
happened to be involved in the area.

I am told that my contributions of pieces to art auctions for
charities are only reportable to the IRS at the material cost of
production. This does not include my time of course, or any real
market value. It's only art, after all, and surely just a hobby for me.
The people who get the real tax benifit are the wealthy who made the
purchase, they can utitize the full amount of they spent at the
auction. After all, they had to get in their car and drive there and
all, dress, etc..

Welcome to America.

Make sure you are involved only because of the spirit of the thing,
that's what counts and it'll be difficult to otherwise take advantage
of your act of generosity.
Tyler

--- In DigitalBlackandWhiteThePrint@yahoogroups.com, "hflockwood"
<hflockwood@...> wrote:
>
> In a juried process, I was selected to exhibit my (B&W) prints at a
non-profit art center in VT
> (Northeast Kingdom.)  The prints are archival (carbon on cotton: MIS
quadtone, HFA paper)
> and are professionally matted and (16x20) framed.  There will be 25
prints in the month-
> long exhibit.
>
> Since the center is in the midst of a fund raising effort, I'm
contemplating donating the entire
> collection to their building fund, rather than trying to sell them.
 Obviously, this raises the
> question of how to value the collection for tax purposes.
>
> The materials cost to me of putting the collection together is about
$150 per print, with no
> value given to my time or to the artistic value of the prints included.
>
> So, if I am to claim a charitable deduction, how do I value the
donation?  The center has
> agreed that $400 per print, or $10,000 for the collection, would be
easily justified.
>
> I'm looking for guidance from others who may have faced a similar
situation.
>
> TIA.
>
> Harry
>




Please visit the Group Homepage to check the Files, and other resources as 
they are often being updated.

http://groups.yahoo.com/group/DigitalBlackandWhiteThePrint

If you wish to receive no emails or just a daily digest, or you wish to 
unsubscribe, please edit your Membership preferences by visiting this same 
page.

Please follow these basic guidelines:
- As threads develop, trim off excess portions of earlier messages to keep 
them short.
- Good manners are required at all time. No personal attacks or flames. 
Hostile, aggressive or argumentative users may be removed from the 
membership without notice.
- Keep your posts and threads related to the group topic of digital B&W 
printing. Users who persistently make off-topic posts may be removed from 
the membership.
- By posting on this forum you agree to abide by the group rules and 
guidelines, and to abide by the actions and decisions of the group Owner and 
Moderators. See "Group Topic, Rules and Guidelines" in the Files section:
http://groups.yahoo.com/group/DigitalBlackandWhiteThePrint/files/

BY PARTICIPATING IN AND/OR POSTING MESSAGES TO THE DIGITAL BW, THE PRINT 
YAHOO! GROUP YOU EXPRESSLY UNDERSTAND AND AGREE THAT THE "OWNER" AND 
"MODERATORS" OF DIGITAL BW, THE PRINT YAHOO GROUP SHALL NOT BE LIABLE TO YOU 
FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY 
DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, 
GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF THE  "OWNER" AND 
"MODERATORS" OF DIGITAL BW, THE PRINT YAHOO GROUP HAVE BEEN ADVISED OF THE 
POSSIBILITY OF SUCH DAMAGES), RESULTING FROM: (i) THE USE OR THE INABILITY 
TO USE THE DIGITAL BW, THE PRINT YAHOO GROUP; (ii) UNAUTHORIZED ACCESS TO OR 
ALTERATION OF YOUR TRANSMISSIONS OR DATA; (iii) STATEMENTS OR CONDUCT OF ANY 
THIRD PARTY ON THE DIGITAL BW, THE PRINT YAHOO GROUP; OR (iv) ANY OTHER 
MATTER RELATING TO THE DIGITAL BW, THE PRINT YAHOO GROUP.

Yahoo! Groups Links

Harry,

Perhaps you should begin your valuation search at the IRS web site.  Let us
know what you learn.  I know we'd all be interested.  Good luck.

On 6/12/07, hflockwood <hflockwood@...> wrote:
>
>   In a juried process, I was selected to exhibit my (B&W) prints at a
> non-profit art center in VT
> (Northeast Kingdom.) The prints are archival (carbon on cotton: MIS
> quadtone, HFA paper)
> and are professionally matted and (16x20) framed. There will be 25 prints
> in the month-
> long exhibit.
>
> Since the center is in the midst of a fund raising effort, I'm
> contemplating donating the entire
> collection to their building fund, rather than trying to sell them.
> Obviously, this raises the
> question of how to value the collection for tax purposes.
>
> The materials cost to me of putting the collection together is about $150
> per print, with no
> value given to my time or to the artistic value of the prints included.
>
> So, if I am to claim a charitable deduction, how do I value the donation?
> The center has
> agreed that $400 per print, or $10,000 for the collection, would be easily
> justified.
>
> I'm looking for guidance from others who may have faced a similar
> situation.
>
> TIA.
>
> Harry
>
>  
>


[Non-text portions of this message have been removed]

I was being sarcastic, sorry.
There's considerable personal experience with that scenario that has
resulted in my cynicism about it. I'll leave it at that.
Ultimately, I hope the poster got the advice he needed.
Tyler

--- In DigitalBlackandWhiteThePrint@yahoogroups.com, Brian Ellis
<bellis60@...> wrote:
>
> "The people who get the real tax benifit are the wealthy who made the
> purchase, they can utitize the full amount of they spent at the
> auction. After all, they had to get in their car and drive there and
> all, dress, etc.."
> 
> Well of course they did a little more than just get dressed and
drive to the 
> auction - they laid out the money to buy the work of art that they
donate to 
> the charity.
> 
> 
> 
> ----- Original Message ----- 
> From: "Tyler Boley" <tyler@...>
> To: <DigitalBlackandWhiteThePrint@yahoogroups.com>
> Sent: Tuesday, June 12, 2007 12:36 PM
> Subject: [Digital BW] Re: Valuing Prints
> 
> 
> I first discovered this long ago when I contributed an entire body of
> work of a Costa Rica Rain forest to the Nature Conservancy who
> happened to be involved in the area.
> 
> I am told that my contributions of pieces to art auctions for
> charities are only reportable to the IRS at the material cost of
> production. This does not include my time of course, or any real
> market value. It's only art, after all, and surely just a hobby for me.
> The people who get the real tax benifit are the wealthy who made the
> purchase, they can utitize the full amount of they spent at the
> auction. After all, they had to get in their car and drive there and
> all, dress, etc..
> 
> Welcome to America.
> 
> Make sure you are involved only because of the spirit of the thing,
> that's what counts and it'll be difficult to otherwise take advantage
> of your act of generosity.
> Tyler
> 
> --- In DigitalBlackandWhiteThePrint@yahoogroups.com, "hflockwood"
> <hflockwood@> wrote:
> >
> > In a juried process, I was selected to exhibit my (B&W) prints at a
> non-profit art center in VT
> > (Northeast Kingdom.)  The prints are archival (carbon on cotton: MIS
> quadtone, HFA paper)
> > and are professionally matted and (16x20) framed.  There will be 25
> prints in the month-
> > long exhibit.
> >
> > Since the center is in the midst of a fund raising effort, I'm
> contemplating donating the entire
> > collection to their building fund, rather than trying to sell them.
>  Obviously, this raises the
> > question of how to value the collection for tax purposes.
> >
> > The materials cost to me of putting the collection together is about
> $150 per print, with no
> > value given to my time or to the artistic value of the prints
included.
> >
> > So, if I am to claim a charitable deduction, how do I value the
> donation?  The center has
> > agreed that $400 per print, or $10,000 for the collection, would be
> easily justified.
> >
> > I'm looking for guidance from others who may have faced a similar
> situation.
> >
> > TIA.
> >
> > Harry
> >
> 
> 
> 
> 
> Please visit the Group Homepage to check the Files, and other
resources as 
> they are often being updated.
> 
> http://groups.yahoo.com/group/DigitalBlackandWhiteThePrint
> 
> If you wish to receive no emails or just a daily digest, or you wish to 
> unsubscribe, please edit your Membership preferences by visiting
this same 
> page.
> 
> Please follow these basic guidelines:
> - As threads develop, trim off excess portions of earlier messages
to keep 
> them short.
> - Good manners are required at all time. No personal attacks or flames. 
> Hostile, aggressive or argumentative users may be removed from the 
> membership without notice.
> - Keep your posts and threads related to the group topic of digital B&W 
> printing. Users who persistently make off-topic posts may be removed
from 
> the membership.
> - By posting on this forum you agree to abide by the group rules and 
> guidelines, and to abide by the actions and decisions of the group
Owner and 
> Moderators. See "Group Topic, Rules and Guidelines" in the Files
section:
> http://groups.yahoo.com/group/DigitalBlackandWhiteThePrint/files/
> 
> BY PARTICIPATING IN AND/OR POSTING MESSAGES TO THE DIGITAL BW, THE
PRINT 
> YAHOO! GROUP YOU EXPRESSLY UNDERSTAND AND AGREE THAT THE "OWNER" AND 
> "MODERATORS" OF DIGITAL BW, THE PRINT YAHOO GROUP SHALL NOT BE
LIABLE TO YOU 
> FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR
EXEMPLARY 
> DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, 
> GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF THE  "OWNER"
AND 
> "MODERATORS" OF DIGITAL BW, THE PRINT YAHOO GROUP HAVE BEEN ADVISED
OF THE 
> POSSIBILITY OF SUCH DAMAGES), RESULTING FROM: (i) THE USE OR THE
INABILITY 
> TO USE THE DIGITAL BW, THE PRINT YAHOO GROUP; (ii) UNAUTHORIZED
ACCESS TO OR 
> ALTERATION OF YOUR TRANSMISSIONS OR DATA; (iii) STATEMENTS OR
CONDUCT OF ANY 

> THIRD PARTY ON THE DIGITAL BW, THE PRINT YAHOO GROUP; OR (iv) ANY OTHER 
> MATTER RELATING TO THE DIGITAL BW, THE PRINT YAHOO GROUP.
> 
> Yahoo! Groups Links
>

Tyler,

Thanks for the guidance.  I had hoped for a financial win-win solution with
a decent tax break.  I guess I¹ll just have to be more generous than I
planned.

I wonder if Annie L. would be held to the same constraint.   ;-)

Harry


On 6/12/07 9:31 PM, "Tyler Boley" <tyler@...> wrote:

>  
>  
>  
> 
> I was being sarcastic, sorry.
> There's considerable personal experience with that scenario that has
> resulted in my cynicism about it. I'll leave it at that.
> Ultimately, I hope the poster got the advice he needed.
> Tyler
> 
> --- In DigitalBlackandWhiteThePrint@yahoogroups.com
> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , Brian Ellis
> <bellis60@...> wrote:
>> >
>> > "The people who get the real tax benifit are the wealthy who made the
>> > purchase, they can utitize the full amount of they spent at the
>> > auction. After all, they had to get in their car and drive there and
>> > all, dress, etc.."
>> > 
>> > Well of course they did a little more than just get dressed and
> drive to the 
>> > auction - they laid out the money to buy the work of art that they
> donate to 
>> > the charity.
>> > 
>> > 
>> > 
>> > ----- Original Message -----
>> > From: "Tyler Boley" <tyler@...>
>> > To: <DigitalBlackandWhiteThePrint@yahoogroups.com
>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> >
>> > Sent: Tuesday, June 12, 2007 12:36 PM
>> > Subject: [Digital BW] Re: Valuing Prints
>> > 
>> > 
>> > I first discovered this long ago when I contributed an entire body of
>> > work of a Costa Rica Rain forest to the Nature Conservancy who
>> > happened to be involved in the area.
>> > 
>> > I am told that my contributions of pieces to art auctions for
>> > charities are only reportable to the IRS at the material cost of
>> > production. This does not include my time of course, or any real
>> > market value. It's only art, after all, and surely just a hobby for me.
>> > The people who get the real tax benifit are the wealthy who made the
>> > purchase, they can utitize the full amount of they spent at the
>> > auction. After all, they had to get in their car and drive there and
>> > all, dress, etc..
>> > 
>> > Welcome to America.
>> > 
>> > Make sure you are involved only because of the spirit of the thing,
>> > that's what counts and it'll be difficult to otherwise take advantage
>> > of your act of generosity.
>> > Tyler
>> > 
>> > --- In DigitalBlackandWhiteThePrint@yahoogroups.com
>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , "hflockwood"
>> > <hflockwood@> wrote:
>>> > >
>>> > > In a juried process, I was selected to exhibit my (B&W) prints at a
>> > non-profit art center in VT
>>> > > (Northeast Kingdom.)  The prints are archival (carbon on cotton: MIS
>> > quadtone, HFA paper)
>>> > > and are professionally matted and (16x20) framed.  There will be 25
>> > prints in the month-
>>> > > long exhibit.
>>> > >
>>> > > Since the center is in the midst of a fund raising effort, I'm
>> > contemplating donating the entire
>>> > > collection to their building fund, rather than trying to sell them.
>> >  Obviously, this raises the
>>> > > question of how to value the collection for tax purposes.
>>> > >
>>> > > The materials cost to me of putting the collection together is about
>> > $150 per print, with no
>>> > > value given to my time or to the artistic value of the prints
> included.
>>> > >
>>> > > So, if I am to claim a charitable deduction, how do I value the
>> > donation?  The center has
>>> > > agreed that $400 per print, or $10,000 for the collection, would be
>> > easily justified.
>>> > >
>>> > > I'm looking for guidance from others who may have faced a similar
>> > situation.
>>> > >
>>> > > TIA.
>>> > >
>>> > > Harry
>>> > >
>> > 
>> > 
>> > 
>> > 
>> > Please visit the Group Homepage to check the Files, and other
> resources as 
>> > they are often being updated.
>> > 
>> > http://groups.yahoo.com/group/DigitalBlackandWhiteThePrint
>> > 
>> > If you wish to receive no emails or just a daily digest, or you wish to
>> > unsubscribe, please edit your Membership preferences by visiting
> this same 
>> > page.
>> > 
>> > Please follow these basic guidelines:
>> > - As threads develop, trim off excess portions of earlier messages
> to keep 
>> > them short.
>> > - Good manners are required at all time. No personal attacks or flames.
>> > Hostile, aggressive or argumentative users may be removed from the
>> > membership without notice.
>> > - Keep your posts and threads related to the group topic of digital B&W
>> > printing. Users who persistently make off-topic posts may be removed
> from 
>> > the membership.
>> > - By posting on this forum you agree to abide by the group rules and
>> > guidelines, and to abide by the actions and decisions of the group
> Owner and 
>> > Moderators. See "Group Topic, Rules and Guidelines" in the Files
> section:
>> > http://groups.yahoo.com/group/DigitalBlackandWhiteThePrint/files/
>> > 
>> > BY PARTICIPATING IN AND/OR POSTING MESSAGES TO THE DIGITAL BW, THE
> PRINT 
>> > YAHOO! GROUP YOU EXPRESSLY UNDERSTAND AND AGREE THAT THE "OWNER" AND
>> > "MODERATORS" OF DIGITAL BW, THE PRINT YAHOO GROUP SHALL NOT BE
> LIABLE TO YOU 
>> > FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR
> EXEMPLARY 
>> > DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS,
>> > GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF THE  "OWNER"
> AND 
>> > "MODERATORS" OF DIGITAL BW, THE PRINT YAHOO GROUP HAVE BEEN ADVISED
> OF THE 
>> > POSSIBILITY OF SUCH DAMAGES), RESULTING FROM: (i) THE USE OR THE
> INABILITY 
>> > TO USE THE DIGITAL BW, THE PRINT YAHOO GROUP; (ii) UNAUTHORIZED
> ACCESS TO OR 
>> > ALTERATION OF YOUR TRANSMISSIONS OR DATA; (iii) STATEMENTS OR
> CONDUCT OF ANY 
>> > THIRD PARTY ON THE DIGITAL BW, THE PRINT YAHOO GROUP; OR (iv) ANY OTHER
>> > MATTER RELATING TO THE DIGITAL BW, THE PRINT YAHOO GROUP.
>> > 
>> > Yahoo! Groups Links
>> >
> 
>  
>     


-- 

Harry F. Lockwood




[Non-text portions of this message have been removed]

I¹ll do that.  Thanks.

Harry


On 6/12/07 5:58 PM, "Sandy Schaffell" <sschaffell@...> wrote:

>  
>  
>  
> 
> Harry,
> 
> Perhaps you should begin your valuation search at the IRS web site.  Let us
> know what you learn.  I know we'd all be interested.  Good luck.
> 
> On 6/12/07, hflockwood <hflockwood@...
> <mailto:hflockwood%40verizon.net> > wrote:
>> >
>> >   In a juried process, I was selected to exhibit my (B&W) prints at a
>> > non-profit art center in VT
>> > (Northeast Kingdom.) The prints are archival (carbon on cotton: MIS
>> > quadtone, HFA paper)
>> > and are professionally matted and (16x20) framed. There will be 25 prints
>> > in the month-
>> > long exhibit.
>> >
>> > Since the center is in the midst of a fund raising effort, I'm
>> > contemplating donating the entire
>> > collection to their building fund, rather than trying to sell them.
>> > Obviously, this raises the
>> > question of how to value the collection for tax purposes.
>> >
>> > The materials cost to me of putting the collection together is about $150
>> > per print, with no
>> > value given to my time or to the artistic value of the prints included.
>> >
>> > So, if I am to claim a charitable deduction, how do I value the donation?
>> > The center has
>> > agreed that $400 per print, or $10,000 for the collection, would be easily
>> > justified.
>> >
>> > I'm looking for guidance from others who may have faced a similar
>> > situation.
>> >
>> > TIA.
>> >
>> > Harry
>> >
>> >  
>> >



[Non-text portions of this message have been removed]

Harry, Tyler is correct (as far as I know) regarding the limits of tax
deduction for contributions by artists of their own works. My understanding
of the IRS ruling is that you may only deduct the cost of materials (and I
suppose framing if you paid someone to do your framing).

There was a move in Congress back 2003 to reinstate the tax deductions,
however I don't think there has been any progress. There was another bill in
2005 but I don't think that one passed either.

Look here http://edu-cyberpg.com/Arts/tax.html

>> 
>> I first discovered this long ago when I contributed an entire body of
>> work of a Costa Rica Rain forest to the Nature Conservancy who
>> happened to be involved in the area.
>> 
>> I am told that my contributions of pieces to art auctions for
>> charities are only reportable to the IRS at the material cost of
>> production. This does not include my time of course, or any real
>> market value. It's only art, after all, and surely just a hobby for me.
>> The people who get the real tax benifit are the wealthy who made the
>> purchase, they can utitize the full amount of they spent at the
>> auction. After all, they had to get in their car and drive there and
>> all, dress, etc..
>> 
>> Welcome to America.
>> 
>> Make sure you are involved only because of the spirit of the thing,
>> that's what counts and it'll be difficult to otherwise take advantage
>> of your act of generosity.
>> Tyler
>> 
>> --- In DigitalBlackandWhiteThePrint@yahoogroups.com
>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , "hflockwood"
>> <hflockwood@...> wrote:
>>> 
>>> In a juried process, I was selected to exhibit my (B&W) prints at a
>>> non-profit art center in VT (Northeast Kingdom.)  The prints are archival
>>> (carbon on cotton: MIS quadtone, HFA paper) and are professionally matted
>>> and (16x20) framed.  There will be 25 prints in the month- long exhibit.
>>> 
>>> Since the center is in the midst of a fund raising effort, I'm contemplating
>>> donating the entire collection to their building fund, rather than trying to
>>> sell them. Obviously, this raises the question of how to value the
>>> collection for tax purposes.
>>> 
>>> The materials cost to me of putting the collection together is about $150
>>> per print, with no value given to my time or to the artistic value of the
>>> prints included.
>>> 
>>> So, if I am to claim a charitable deduction, how do I value the donation?
>>> The center has agreed that $400 per print, or $10,000 for the collection,
>>> would be easily justified.
>>> 
>>> I'm looking for guidance from others who may have faced a similar situation.
>>> 
>>> TIA.
>>> 
>>> Harry

What I do in cases like this is to sprinkle crushed up diamond
particles in the ink mixture and print on imported gold soaked papers,
which pushes up the value of my materials considerably, but produces a
lot of clogging. :-)


john 






--- In DigitalBlackandWhiteThePrint@yahoogroups.com, Harry Lockwood
<hflockwood@...> wrote:
>
> Tyler,
> 
> Thanks for the guidance.  I had hoped for a financial win-win
solution with
> a decent tax break.  I guess I¹ll just have to be more generous than I
> planned.
> 
> I wonder if Annie L. would be held to the same constraint.   ;-)
> 
> Harry
> 
> 
> On 6/12/07 9:31 PM, "Tyler Boley" <tyler@...> wrote:
> 
> >  
> >  
> >  
> > 
> > I was being sarcastic, sorry.
> > There's considerable personal experience with that scenario that has
> > resulted in my cynicism about it. I'll leave it at that.
> > Ultimately, I hope the poster got the advice he needed.
> > Tyler
> > 
> > --- In DigitalBlackandWhiteThePrint@...m
> > <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , Brian Ellis
> > <bellis60@> wrote:
> >> >
> >> > "The people who get the real tax benifit are the wealthy who
made the
> >> > purchase, they can utitize the full amount of they spent at the
> >> > auction. After all, they had to get in their car and drive
there and
> >> > all, dress, etc.."
> >> > 
> >> > Well of course they did a little more than just get dressed and
> > drive to the 
> >> > auction - they laid out the money to buy the work of art that they
> > donate to 
> >> > the charity.
> >> > 
> >> > 
> >> > 
> >> > ----- Original Message -----
> >> > From: "Tyler Boley" <tyler@>
> >> > To: <DigitalBlackandWhiteThePrint@yahoogroups.com
> >> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> >
> >> > Sent: Tuesday, June 12, 2007 12:36 PM
> >> > Subject: [Digital BW] Re: Valuing Prints
> >> > 
> >> > 
> >> > I first discovered this long ago when I contributed an entire
body of
> >> > work of a Costa Rica Rain forest to the Nature Conservancy who
> >> > happened to be involved in the area.
> >> > 
> >> > I am told that my contributions of pieces to art auctions for
> >> > charities are only reportable to the IRS at the material cost of
> >> > production. This does not include my time of course, or any real
> >> > market value. It's only art, after all, and surely just a hobby
for me.
> >> > The people who get the real tax benifit are the wealthy who
made the
> >> > purchase, they can utitize the full amount of they spent at the
> >> > auction. After all, they had to get in their car and drive
there and
> >> > all, dress, etc..
> >> > 
> >> > Welcome to America.
> >> > 
> >> > Make sure you are involved only because of the spirit of the thing,
> >> > that's what counts and it'll be difficult to otherwise take
advantage
> >> > of your act of generosity.
> >> > Tyler
> >> > 
> >> > --- In DigitalBlackandWhiteThePrint@yahoogroups.com
> >> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> ,
"hflockwood"
> >> > <hflockwood@> wrote:
> >>> > >
> >>> > > In a juried process, I was selected to exhibit my (B&W)
prints at a
> >> > non-profit art center in VT
> >>> > > (Northeast Kingdom.)  The prints are archival (carbon on
cotton: MIS
> >> > quadtone, HFA paper)
> >>> > > and are professionally matted and (16x20) framed.  There
will be 25
> >> > prints in the month-
> >>> > > long exhibit.
> >>> > >
> >>> > > Since the center is in the midst of a fund raising effort, I'm
> >> > contemplating donating the entire
> >>> > > collection to their building fund, rather than trying to
sell them.
> >> >  Obviously, this raises the
> >>> > > question of how to value the collection for tax purposes.
> >>> > >
> >>> > > The materials cost to me of putting the collection together
is about
> >> > $150 per print, with no
> >>> > > value given to my time or to the artistic value of the prints
> > included.
> >>> > >
> >>> > > So, if I am to claim a charitable deduction, how do I value the
> >> > donation?  The center has
> >>> > > agreed that $400 per print, or $10,000 for the collection,
would be
> >> > easily justified.
> >>> > >
> >>> > > I'm looking for guidance from others who may have faced a
similar
> >> > situation.
> >>> > >
> >>> > > TIA.
> >>> > >
> >>> > > Harry
> >>> > >
> >> > 
> >> > 
> >> > 
> >> > 
> >> > Please visit the Group Homepage to check the Files, and other
> > resources as 
> >> > they are often being updated.
> >> > 
> >> > http://groups.yahoo.com/group/DigitalBlackandWhiteThePrint
> >> > 
> >> > If you wish to receive no emails or just a daily digest, or you
wish to
> >> > unsubscribe, please edit your Membership preferences by visiting
> > this same 
> >> > page.
> >> > 
> >> > Please follow these basic guidelines:
> >> > - As threads develop, trim off excess portions of earlier messages
> > to keep 
> >> > them short.
> >> > - Good manners are required at all time. No personal attacks or
flames.
> >> > Hostile, aggressive or argumentative users may be removed from the
> >> > membership without notice.
> >> > - Keep your posts and threads related to the group topic of
digital B&W
> >> > printing. Users who persistently make off-topic posts may be
removed
> > from 
> >> > the membership.
> >> > - By posting on this forum you agree to abide by the group
rules and
> >> > guidelines, and to abide by the actions and decisions of the group
> > Owner and 
> >> > Moderators. See "Group Topic, Rules and Guidelines" in the Files
> > section:
> >> > http://groups.yahoo.com/group/DigitalBlackandWhiteThePrint/files/
> >> > 
> >> > BY PARTICIPATING IN AND/OR POSTING MESSAGES TO THE DIGITAL BW, THE
> > PRINT 
> >> > YAHOO! GROUP YOU EXPRESSLY UNDERSTAND AND AGREE THAT THE
"OWNER" AND
> >> > "MODERATORS" OF DIGITAL BW, THE PRINT YAHOO GROUP SHALL NOT BE
> > LIABLE TO YOU 
> >> > FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR
> > EXEMPLARY 
> >> > DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS,
> >> > GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF THE 
"OWNER"
> > AND 
> >> > "MODERATORS" OF DIGITAL BW, THE PRINT YAHOO GROUP HAVE BEEN ADVISED
> > OF THE 
> >> > POSSIBILITY OF SUCH DAMAGES), RESULTING FROM: (i) THE USE OR THE
> > INABILITY 
> >> > TO USE THE DIGITAL BW, THE PRINT YAHOO GROUP; (ii) UNAUTHORIZED
> > ACCESS TO OR 
> >> > ALTERATION OF YOUR TRANSMISSIONS OR DATA; (iii) STATEMENTS OR
> > CONDUCT OF ANY 
> >> > THIRD PARTY ON THE DIGITAL BW, THE PRINT YAHOO GROUP; OR (iv)
ANY OTHER

> >> > MATTER RELATING TO THE DIGITAL BW, THE PRINT YAHOO GROUP.
> >> > 
> >> > Yahoo! Groups Links
> >> >
> > 
> >  
> >     
> 
> 
> -- 
> 
> Harry F. Lockwood
> 
> 
> 
> 
> [Non-text portions of this message have been removed]
>

More info, confirming Tyler¹s original input on valuing art.

From http://www.mam.org/supportus/gifts_of_art.htm

³Tax Considerations

Income Tax Charitable Deduction : Most gifts of art qualify for an income
tax deduction based on their fair market value as of the date of your gift.
In order to qualify, you must have owned the work of art for a period of 12
months or more. Please note that you may deduct these types of gifts up to
30 percent of your adjusted gross income. Under most circumstances, you have
five years after the year of your gift to deduct any excess value not
deducted in the year of your gift.

Exception : If you are the artist, or if you received from the artist as a
gift the work of art you wish to donate, your deduction is limited to the
cost of the artist's materials. If you received the work of art from the
artist by bequest, you may take the fair market value of the work of art as
your deduction. If you are a dealer of art, you are limited to a deduction
based on the art's value a s inventory.²

Harry




On 6/12/07 5:58 PM, "Sandy Schaffell" <sschaffell@...> wrote:

> Harry,
> 
> Perhaps you should begin your valuation search at the IRS web site.  Let us
> know what you learn.  I know we'd all be interested.  Good luck.
> 
> On 6/12/07, hflockwood <hflockwood@...
> <mailto:hflockwood%40verizon.net> > wrote:
>> >
>> >   In a juried process, I was selected to exhibit my (B&W) prints at a
>> > non-profit art center in VT
>> > (Northeast Kingdom.) The prints are archival (carbon on cotton: MIS
>> > quadtone, HFA paper)
>> > and are professionally matted and (16x20) framed. There will be 25 prints
>> > in the month-
>> > long exhibit.
>> >
>> > Since the center is in the midst of a fund raising effort, I'm
>> > contemplating donating the entire
>> > collection to their building fund, rather than trying to sell them.
>> > Obviously, this raises the
>> > question of how to value the collection for tax purposes.
>> >
>> > The materials cost to me of putting the collection together is about $150
>> > per print, with no
>> > value given to my time or to the artistic value of the prints included.
>> >
>> > So, if I am to claim a charitable deduction, how do I value the donation?
>> > The center has
>> > agreed that $400 per print, or $10,000 for the collection, would be easily
>> > justified.
>> >
>> > I'm looking for guidance from others who may have faced a similar
>> > situation.
>> >
>> > TIA.
>> >
>> > Harry
>> >


-- 

Harry F. Lockwood




[Non-text portions of this message have been removed]

Yes, Tyler is correct.  I posted a note here before reading your input,
confirming what Tyler wrote.
Thanks for the reference.

Harry


On 6/13/07 8:30 AM, "Wendel White" <wendel@...> wrote:
> 
> 
> Harry, Tyler is correct (as far as I know) regarding the limits of tax
> deduction for contributions by artists of their own works. My understanding
> of the IRS ruling is that you may only deduct the cost of materials (and I
> suppose framing if you paid someone to do your framing).
> 
> There was a move in Congress back 2003 to reinstate the tax deductions,
> however I don't think there has been any progress. There was another bill in
> 2005 but I don't think that one passed either.
> 
> Look here http://edu-cyberpg.com/Arts/tax.html
> 
>>> >> 
>>> >> I first discovered this long ago when I contributed an entire body of
>>> >> work of a Costa Rica Rain forest to the Nature Conservancy who
>>> >> happened to be involved in the area.
>>> >> 
>>> >> I am told that my contributions of pieces to art auctions for
>>> >> charities are only reportable to the IRS at the material cost of
>>> >> production. This does not include my time of course, or any real
>>> >> market value. It's only art, after all, and surely just a hobby for me.
>>> >> The people who get the real tax benifit are the wealthy who made the
>>> >> purchase, they can utitize the full amount of they spent at the
>>> >> auction. After all, they had to get in their car and drive there and
>>> >> all, dress, etc..
>>> >> 
>>> >> Welcome to America.
>>> >> 
>>> >> Make sure you are involved only because of the spirit of the thing,
>>> >> that's what counts and it'll be difficult to otherwise take advantage
>>> >> of your act of generosity.
>>> >> Tyler
>>> >> 
>>> >> --- In DigitalBlackandWhiteThePrint@yahoogroups.com
>>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com>
>>> >> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , "hflockwood"
>>> >> <hflockwood@...> wrote:
>>>> >>> 
>>>> >>> In a juried process, I was selected to exhibit my (B&W) prints at a
>>>> >>> non-profit art center in VT (Northeast Kingdom.)  The prints are
>>>> archival
>>>> >>> (carbon on cotton: MIS quadtone, HFA paper) and are professionally
>>>> matted
>>>> >>> and (16x20) framed.  There will be 25 prints in the month- long
>>>> exhibit.
>>>> >>> 
>>>> >>> Since the center is in the midst of a fund raising effort, I'm
>>>> contemplating
>>>> >>> donating the entire collection to their building fund, rather than
>>>> trying to
>>>> >>> sell them. Obviously, this raises the question of how to value the
>>>> >>> collection for tax purposes.
>>>> >>> 
>>>> >>> The materials cost to me of putting the collection together is about
>>>> $150
>>>> >>> per print, with no value given to my time or to the artistic value of
the
>>>> >>> prints included.
>>>> >>> 
>>>> >>> So, if I am to claim a charitable deduction, how do I value the
>>>> donation?
>>>> >>> The center has agreed that $400 per print, or $10,000 for the
>>>> collection,
>>>> >>> would be easily justified.
>>>> >>> 
>>>> >>> I'm looking for guidance from others who may have faced a similar
>>>> situation.
>>>> >>> 
>>>> >>> TIA.
>>>> >>> 
>>>> >>> Harry
> 
 
-- 

Harry F. Lockwood




[Non-text portions of this message have been removed]

Final word:  Given that it¹s for a good cause, I¹ve decided to donate the
prints to the art center.
Thanks for the advice from all.

Harry


On 6/13/07 9:14 AM, "Harry Lockwood" <hflockwood@...> wrote:

>  Yes, Tyler is correct.  I posted a note here before reading your input,
> confirming what Tyler wrote.
> Thanks for the reference.
> 
> Harry
> 
> On 6/13/07 8:30 AM, "Wendel White" <wendel@...
> <mailto:wendel%40blacktowns.org> > wrote:
>> > 
>> > 
>> > Harry, Tyler is correct (as far as I know) regarding the limits of tax
>> > deduction for contributions by artists of their own works. My understanding
>> > of the IRS ruling is that you may only deduct the cost of materials (and I
>> > suppose framing if you paid someone to do your framing).
>> > 
>> > There was a move in Congress back 2003 to reinstate the tax deductions,
>> > however I don't think there has been any progress. There was another bill
>> in
>> > 2005 but I don't think that one passed either.
>> > 
>> > Look here http://edu-cyberpg.com/Arts/tax.html
>> > 
>>>>>> >>> >> 
>>>>>> >>> >> I first discovered this long ago when I contributed an entire body
of
>>>>>> >>> >> work of a Costa Rica Rain forest to the Nature Conservancy who
>>>>>> >>> >> happened to be involved in the area.
>>>>>> >>> >> 
>>>>>> >>> >> I am told that my contributions of pieces to art auctions for
>>>>>> >>> >> charities are only reportable to the IRS at the material cost of
>>>>>> >>> >> production. This does not include my time of course, or any real
>>>>>> >>> >> market value. It's only art, after all, and surely just a hobby
>>>>>> for me.
>>>>>> >>> >> The people who get the real tax benifit are the wealthy who made
the
>>>>>> >>> >> purchase, they can utitize the full amount of they spent at the
>>>>>> >>> >> auction. After all, they had to get in their car and drive there
and
>>>>>> >>> >> all, dress, etc..
>>>>>> >>> >> 
>>>>>> >>> >> Welcome to America.
>>>>>> >>> >> 
>>>>>> >>> >> Make sure you are involved only because of the spirit of the
thing,
>>>>>> >>> >> that's what counts and it'll be difficult to otherwise take
>>>>>> advantage
>>>>>> >>> >> of your act of generosity.
>>>>>> >>> >> Tyler
>>>>>> >>> >> 
>>>>>> >>> >> --- In DigitalBlackandWhiteThePrint@yahoogroups.com
>>>>>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com>
>>>> >>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com>
>>>>>> >>> >> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> ,
>>>>>> "hflockwood"
>>>>>> >>> >> <hflockwood@...> wrote:
>>>>>>>> >>>> >>> 
>>>>>>>> >>>> >>> In a juried process, I was selected to exhibit my (B&W) prints
at a
>>>>>>>> >>>> >>> non-profit art center in VT (Northeast Kingdom.)  The prints
are
>>>>> >>>> archival
>>>>>>>> >>>> >>> (carbon on cotton: MIS quadtone, HFA paper) and are
>>>>>>>> professionally
>>>>> >>>> matted
>>>>>>>> >>>> >>> and (16x20) framed.  There will be 25 prints in the month-
long
>>>>> >>>> exhibit.
>>>>>>>> >>>> >>> 
>>>>>>>> >>>> >>> Since the center is in the midst of a fund raising effort, I'm
>>>>> >>>> contemplating
>>>>>>>> >>>> >>> donating the entire collection to their building fund, rather
than
>>>>> >>>> trying to
>>>>>>>> >>>> >>> sell them. Obviously, this raises the question of how to value
the
>>>>>>>> >>>> >>> collection for tax purposes.
>>>>>>>> >>>> >>> 
>>>>>>>> >>>> >>> The materials cost to me of putting the collection together is
about
>>>>> >>>> $150
>>>>>>>> >>>> >>> per print, with no value given to my time or to the artistic
value of
> the
>>>>>>>> >>>> >>> prints included.
>>>>>>>> >>>> >>> 
>>>>>>>> >>>> >>> So, if I am to claim a charitable deduction, how do I value
the
>>>>> >>>> donation?
>>>>>>>> >>>> >>> The center has agreed that $400 per print, or $10,000 for the
>>>>> >>>> collection,
>>>>>>>> >>>> >>> would be easily justified.
>>>>>>>> >>>> >>> 
>>>>>>>> >>>> >>> I'm looking for guidance from others who may have faced a
similar
>>>>> >>>> situation.
>>>>>>>> >>>> >>> 
>>>>>>>> >>>> >>> TIA.
>>>>>>>> >>>> >>> 
>>>>>>>> >>>> >>> Harry
>> > 
>  


-- 

Harry F. Lockwood




[Non-text portions of this message have been removed]

Don't know how private individuals donating is handled, but if you have 
already accounted for the cost of ink, paper and other materials as 
part of your cost of goods ( if you make money and use deductions in 
your business) you cannot deduct any of the cost of your donation. My 
accountant says that is double "expensing" and is a sure fire ticket to 
an audit.

----- Original Message ----- 

From: "john dean" 
What I do in cases like this is to sprinkle crushed up diamond
particles in the ink mixture and print on imported gold soaked papers,
which pushes up the value of my materials considerably, but produces a
lot of clogging. :-)


John

Surely Epson ink costs more than diamonds :-)

Brian

"Why don't you just sell images
(indicating on the price card that the proceeds will be donated), and
donate the proceeds back to the art center as cash and value your
donation as the actual cash sale. That way you get the full deduction
of the sale price, the sale validates the amount of the reduction,
and the art center gets cash for the building fund."

Because there would be a taxable gain on the sale, which would offset the 
charitable contribution deduction and the whole thing would be a wash.

----- Original Message ----- 
From: "richardeskin" <richeskinphoto@...>
To: <DigitalBlackandWhiteThePrint@yahoogroups.com>
Sent: Wednesday, June 13, 2007 8:14 PM
Subject: [Digital BW] Re: Valuing Prints


It isn't clear whether the images are being donated to be hung in
their new or refurbished building, or as a cash contribution to the
building fund.  If the latter why don't you just sell images
(indicating on the price card that the proceeds will be donated), and
donate the proceeds back to the art center as cash and value your
donation as the actual cash sale. That way you get the full deduction
of the sale price, the sale validates the amount of the reduction,
and the art center gets cash for the building fund. Any images not
sold can be donated after the exihibit at material value or, in
appreciation for your donation, to be permanently exhibited in the
new building.

--- In DigitalBlackandWhiteThePrint@yahoogroups.com, "hflockwood"
<hflockwood@...> wrote:
>
> In a juried process, I was selected to exhibit my (B&W) prints at a
non-profit art center in VT
>>
> Since the center is in the midst of a fund raising effort, I'm
contemplating donating the entire
> collection to their building fund, rather than trying to sell
them.  Obviously, this raises the
> question of how to value the collection for tax purposes..
>
> So, if I am to claim a charitable deduction, how do I value the
donation?  The center has
> agreed that $400 per print, or $10,000 for the collection, would be
easily justified.
>
> I'm looking for guidance from others who may have faced a similar
situation.
>
> TIA.
>
> Harry
>




Please visit the Group Homepage to check the Files, and other resources as 
they are often being updated.

http://groups.yahoo.com/group/DigitalBlackandWhiteThePrint

If you wish to receive no emails or just a daily digest, or you wish to 
unsubscribe, please edit your Membership preferences by visiting this same 
page.

Please follow these basic guidelines:
- As threads develop, trim off excess portions of earlier messages to keep 
them short.
- Good manners are required at all time. No personal attacks or flames. 
Hostile, aggressive or argumentative users may be removed from the 
membership without notice.
- Keep your posts and threads related to the group topic of digital B&W 
printing. Users who persistently make off-topic posts may be removed from 
the membership.
- By posting on this forum you agree to abide by the group rules and 
guidelines, and to abide by the actions and decisions of the group Owner and 
Moderators. See "Group Topic, Rules and Guidelines" in the Files section:
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Yahoo! Groups Links

It isn't clear whether the images are being donated to be hung in 
their new or refurbished building, or as a cash contribution to the 
building fund.  If the latter why don't you just sell images 
(indicating on the price card that the proceeds will be donated), and 
donate the proceeds back to the art center as cash and value your 
donation as the actual cash sale. That way you get the full deduction 
of the sale price, the sale validates the amount of the reduction, 
and the art center gets cash for the building fund. Any images not 
sold can be donated after the exihibit at material value or, in 
appreciation for your donation, to be permanently exhibited in the 
new building.

--- In DigitalBlackandWhiteThePrint@yahoogroups.com, "hflockwood" 
<hflockwood@...> wrote:
>
> In a juried process, I was selected to exhibit my (B&W) prints at a 
non-profit art center in VT 
>> 
> Since the center is in the midst of a fund raising effort, I'm 
contemplating donating the entire 
> collection to their building fund, rather than trying to sell 
them.  Obviously, this raises the 
> question of how to value the collection for tax purposes..
> 
> So, if I am to claim a charitable deduction, how do I value the 
donation?  The center has 
> agreed that $400 per print, or $10,000 for the collection, would be 
easily justified.
> 
> I'm looking for guidance from others who may have faced a similar 
situation.

> 
> TIA.
> 
> Harry
>

The problem here of course, is that you then have to claim the sale
price of each print as income. And you then deduct the sale price when
you donate it. So it essentially becomes a "wash".

steve

--- In DigitalBlackandWhiteThePrint@yahoogroups.com, "richardeskin"
<richeskinphoto@...> wrote:

>
> It isn't clear whether the images are being donated to be hung in 
> their new or refurbished building, or as a cash contribution to the 
> building fund.  If the latter why don't you just sell images 
> (indicating on the price card that the proceeds will be donated), and 
> donate the proceeds back to the art center as cash and value your 
> donation as the actual cash sale. That way you get the full deduction 
> of the sale price, the sale validates the amount of the reduction, 
> and the art center gets cash for the building fund. Any images not 
> sold can be donated after the exihibit at material value or, in 
> appreciation for your donation, to be permanently exhibited in the 
> new building.
> 
> --- In DigitalBlackandWhiteThePrint@yahoogroups.com, "hflockwood" 
> <hflockwood@> wrote:
> >
> > In a juried process, I was selected to exhibit my (B&W) prints at a 
> non-profit art center in VT 
> >> 
> > Since the center is in the midst of a fund raising effort, I'm 
> contemplating donating the entire 
> > collection to their building fund, rather than trying to sell 
> them.  Obviously, this raises the 
> > question of how to value the collection for tax purposes..
> > 
> > So, if I am to claim a charitable deduction, how do I value the 
> donation?  The center has 
> > agreed that $400 per print, or $10,000 for the collection, would be 
> easily justified.
> > 
> > I'm looking for guidance from others who may have faced a similar 
> situation.
> > 
> > TIA.
> > 
> > Harry
> >
>

any CPAs here?

Brian Ellis <bellis60@...> wrote:                                  "Why don't you just sell images
 (indicating on the price card that the proceeds will be donated), and
 donate the proceeds back to the art center as cash and value your
 donation as the actual cash sale. That way you get the full deduction
 of the sale price, the sale validates the amount of the reduction,
 and the art center gets cash for the building fund."
 
 Because there would be a taxable gain on the sale, which would offset the 
 charitable contribution deduction and the whole thing would be a wash.

 ----- Original Message ----- 
 From: "richardeskin" <richeskinphoto@...>
 To: <DigitalBlackandWhiteThePrint@yahoogroups.com>
 Sent: Wednesday, June 13, 2007 8:14 PM
 Subject: [Digital BW] Re: Valuing Prints
 
 It isn't clear whether the images are being donated to be hung in
 their new or refurbished building, or as a cash contribution to the
 building fund.  If the latter why don't you just sell images
 (indicating on the price card that the proceeds will be donated), and
 donate the proceeds back to the art center as cash and value your
 donation as the actual cash sale. That way you get the full deduction
 of the sale price, the sale validates the amount of the reduction,
 and the art center gets cash for the building fund. Any images not
 sold can be donated after the exihibit at material value or, in
 appreciation for your donation, to be permanently exhibited in the
 new building.
 
 --- In DigitalBlackandWhiteThePrint@yahoogroups.com, "hflockwood"
 <hflockwood@...> wrote:
 >
 > In a juried process, I was selected to exhibit my (B&W) prints at a
 non-profit art center in VT
 >>
 > Since the center is in the midst of a fund raising effort, I'm
 contemplating donating the entire
 > collection to their building fund, rather than trying to sell
 them.  Obviously, this raises the
 > question of how to value the collection for tax purposes..
 >
 > So, if I am to claim a charitable deduction, how do I value the
 donation?  The center has
 > agreed that $400 per print, or $10,000 for the collection, would be
 easily justified.
 >
 > I'm looking for guidance from others who may have faced a similar
 situation.
 >
 > TIA.
 >
 > Harry
 >
 
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 BY PARTICIPATING IN AND/OR POSTING MESSAGES TO THE DIGITAL BW, THE PRINT 
 YAHOO! GROUP YOU EXPRESSLY UNDERSTAND AND AGREE THAT THE "OWNER" AND 
 "MODERATORS" OF DIGITAL BW, THE PRINT YAHOO GROUP SHALL NOT BE LIABLE TO YOU 
 FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY 
 DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, 
 GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF THE  "OWNER" AND 
 "MODERATORS" OF DIGITAL BW, THE PRINT YAHOO GROUP HAVE BEEN ADVISED OF THE 
 POSSIBILITY OF SUCH DAMAGES), RESULTING FROM: (i) THE USE OR THE INABILITY 
 TO USE THE DIGITAL BW, THE PRINT YAHOO GROUP; (ii) UNAUTHORIZED ACCESS TO OR 
 ALTERATION OF YOUR TRANSMISSIONS OR DATA; (iii) STATEMENTS OR CONDUCT OF ANY 
 THIRD PARTY ON THE DIGITAL BW, THE PRINT YAHOO GROUP; OR (iv) ANY OTHER 
 MATTER RELATING TO THE DIGITAL BW, THE PRINT YAHOO GROUP.
 
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[Non-text portions of this message have been removed]

Thanks for the input, Richard.  That¹s a very interesting alternative that I
hadn¹t considered.
Harry


On 6/13/07 8:14 PM, "richardeskin" <richeskinphoto@...> wrote:
> 
> It isn't clear whether the images are being donated to be hung in
> their new or refurbished building, or as a cash contribution to the
> building fund.  If the latter why don't you just sell images
> (indicating on the price card that the proceeds will be donated), and
> donate the proceeds back to the art center as cash and value your
> donation as the actual cash sale. That way you get the full deduction
> of the sale price, the sale validates the amount of the reduction,
> and the art center gets cash for the building fund. Any images not
> sold can be donated after the exihibit at material value or, in
> appreciation for your donation, to be permanently exhibited in the
> new building.
> 
> --- In DigitalBlackandWhiteThePrint@yahoogroups.com
> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , "hflockwood"
> <hflockwood@...> wrote:
>> >
>> > In a juried process, I was selected to exhibit my (B&W) prints at a
> non-profit art center in VT
>>> >> 
>> > Since the center is in the midst of a fund raising effort, I'm
> contemplating donating the entire
>> > collection to their building fund, rather than trying to sell
> them.  Obviously, this raises the
>> > question of how to value the collection for tax purposes..
>> > 
>> > So, if I am to claim a charitable deduction, how do I value the
> donation?  The center has
>> > agreed that $400 per print, or $10,000 for the collection, would be
> easily justified.
>> > 
>> > I'm looking for guidance from others who may have faced a similar
> situation.
>> > 
>> > TIA.
>> > 
>> > Harry
>> >


-- 

Harry F. Lockwood




[Non-text portions of this message have been removed]

Uh, oh.  I knew I came to the right place with this question.

Harry


On 6/13/07 8:20 PM, "s.traudt" <steve@...> wrote:
> 
> 
> The problem here of course, is that you then have to claim the sale
> price of each print as income. And you then deduct the sale price when
> you donate it. So it essentially becomes a "wash".
> 
> steve
> 
> --- In DigitalBlackandWhiteThePrint@yahoogroups.com
> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , "richardeskin"
> <richeskinphoto@...> wrote:
>> >
>> > It isn't clear whether the images are being donated to be hung in
>> > their new or refurbished building, or as a cash contribution to the
>> > building fund.  If the latter why don't you just sell images
>> > (indicating on the price card that the proceeds will be donated), and
>> > donate the proceeds back to the art center as cash and value your
>> > donation as the actual cash sale. That way you get the full deduction
>> > of the sale price, the sale validates the amount of the reduction,
>> > and the art center gets cash for the building fund. Any images not
>> > sold can be donated after the exihibit at material value or, in
>> > appreciation for your donation, to be permanently exhibited in the
>> > new building.
>> > 
>> > --- In DigitalBlackandWhiteThePrint@yahoogroups.com
>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , "hflockwood"
>> > <hflockwood@> wrote:
>>> > >
>>> > > In a juried process, I was selected to exhibit my (B&W) prints at a
>> > non-profit art center in VT
>>>> > >> 
>>> > > Since the center is in the midst of a fund raising effort, I'm
>> > contemplating donating the entire
>>> > > collection to their building fund, rather than trying to sell
>> > them.  Obviously, this raises the
>>> > > question of how to value the collection for tax purposes..
>>> > > 
>>> > > So, if I am to claim a charitable deduction, how do I value the
>> > donation?  The center has
>>> > > agreed that $400 per print, or $10,000 for the collection, would be
>> > easily justified.
>>> > > 
>>> > > I'm looking for guidance from others who may have faced a similar
>> > situation.
>>> > > 
>>> > > TIA.
>>> > > 
>>> > > Harry
>>> > >
>> >
> 
 
-- 

Harry F. Lockwood




[Non-text portions of this message have been removed]

The way around this is to sell at the materials cost, and then donate the
proceeds.  But that¹s the same as simply donating the collection and
claiming the materials cost.  However, keeping the price that low will
enhance the probability of sales, hence income to the arts center.

Thanks to everyone for your time and valuable advice.  As Tyler suggested, I
should perhaps focus on generosity to the arts center, which I will do.

Harry


On 6/13/07 6:25 PM, "Brian Ellis" <bellis60@...> wrote:

>  
>  
>  
> 
> "Why don't you just sell images
> (indicating on the price card that the proceeds will be donated), and
> donate the proceeds back to the art center as cash and value your
> donation as the actual cash sale. That way you get the full deduction
> of the sale price, the sale validates the amount of the reduction,
> and the art center gets cash for the building fund."
> 
> Because there would be a taxable gain on the sale, which would offset the
> charitable contribution deduction and the whole thing would be a wash.
> 
> ----- Original Message -----
> From: "richardeskin" <richeskinphoto@comcast.net
> <mailto:richeskinphoto%40comcast.net> >
> To: <DigitalBlackandWhiteThePrint@yahoogroups.com
> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> >
> Sent: Wednesday, June 13, 2007 8:14 PM
> Subject: [Digital BW] Re: Valuing Prints
> 
> It isn't clear whether the images are being donated to be hung in
> their new or refurbished building, or as a cash contribution to the
> building fund.  If the latter why don't you just sell images
> (indicating on the price card that the proceeds will be donated), and
> donate the proceeds back to the art center as cash and value your
> donation as the actual cash sale. That way you get the full deduction
> of the sale price, the sale validates the amount of the reduction,
> and the art center gets cash for the building fund. Any images not
> sold can be donated after the exihibit at material value or, in
> appreciation for your donation, to be permanently exhibited in the
> new building.
> 
> --- In DigitalBlackandWhiteThePrint@yahoogroups.com
> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , "hflockwood"
> <hflockwood@...> wrote:
>> >
>> > In a juried process, I was selected to exhibit my (B&W) prints at a
> non-profit art center in VT
>>> >>
>> > Since the center is in the midst of a fund raising effort, I'm
> contemplating donating the entire
>> > collection to their building fund, rather than trying to sell
> them.  Obviously, this raises the
>> > question of how to value the collection for tax purposes..
>> >
>> > So, if I am to claim a charitable deduction, how do I value the
> donation?  The center has
>> > agreed that $400 per print, or $10,000 for the collection, would be
> easily justified.
>> >
>> > I'm looking for guidance from others who may have faced a similar
> situation.
>> >
>> > TIA.
>> >
>> > Harry
>> >
> 
-- 

Harry F. Lockwood




[Non-text portions of this message have been removed]

Actually Harry. It wouldn't quite be a wash. You would be deducting
all your production cost up front as a business expense on the sale as
well as some proportion as overhead etc just as any other business
would do on a merchandise sale. Since the transactions are totally
independent, you would be able to treat the cash gift as just that and
it would be fully deductible. So you would be able to,in a sense,
double dip,perfectly legally. Your action would have the effect of
causing Uncle Sam to help in the contribution. How's that for a bit of
the butterfly wings/windstorm connection?

Regards
Duane




--- In DigitalBlackandWhiteThePrint@yahoogroups.com, Harry Lockwood
<hflockwood@...> wrote:
>
> The way around this is to sell at the materials cost, and then
donate the
> proceeds.  But that�s the same as simply donating the collection and
> claiming the materials cost.  However, keeping the price that low will
> enhance the probability of sales, hence income to the arts center.
> 
> Thanks to everyone for your time and valuable advice.  As Tyler
suggested, I
> should perhaps focus on generosity to the arts center, which I will do.
> 
> Harry
> 
> 
> On 6/13/07 6:25 PM, "Brian Ellis" <bellis60@...> wrote:
> 
> >  
> >  
> >  
> > 
> > "Why don't you just sell images
> > (indicating on the price card that the proceeds will be donated), and
> > donate the proceeds back to the art center as cash and value your
> > donation as the actual cash sale. That way you get the full deduction
> > of the sale price, the sale validates the amount of the reduction,
> > and the art center gets cash for the building fund."
> > 
> > Because there would be a taxable gain on the sale, which would
offset the

> > charitable contribution deduction and the whole thing would be a wash.
> > 
> > ----- Original Message -----
> > From: "richardeskin" <richeskinphoto@...
> > <mailto:richeskinphoto%40comcast.net> >
> > To: <DigitalBlackandWhiteThePrint@yahoogroups.com
> > <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> >
> > Sent: Wednesday, June 13, 2007 8:14 PM
> > Subject: [Digital BW] Re: Valuing Prints
> > 
> > It isn't clear whether the images are being donated to be hung in
> > their new or refurbished building, or as a cash contribution to the
> > building fund.  If the latter why don't you just sell images
> > (indicating on the price card that the proceeds will be donated), and
> > donate the proceeds back to the art center as cash and value your
> > donation as the actual cash sale. That way you get the full deduction
> > of the sale price, the sale validates the amount of the reduction,
> > and the art center gets cash for the building fund. Any images not
> > sold can be donated after the exihibit at material value or, in
> > appreciation for your donation, to be permanently exhibited in the
> > new building.
> > 
> > --- In DigitalBlackandWhiteThePrint@yahoogroups.com
> > <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , "hflockwood"
> > <hflockwood@> wrote:
> >> >
> >> > In a juried process, I was selected to exhibit my (B&W) prints at a
> > non-profit art center in VT
> >>> >>
> >> > Since the center is in the midst of a fund raising effort, I'm
> > contemplating donating the entire
> >> > collection to their building fund, rather than trying to sell
> > them.  Obviously, this raises the
> >> > question of how to value the collection for tax purposes..
> >> >
> >> > So, if I am to claim a charitable deduction, how do I value the
> > donation?  The center has
> >> > agreed that $400 per print, or $10,000 for the collection, would be
> > easily justified.
> >> >
> >> > I'm looking for guidance from others who may have faced a similar
> > situation.
> >> >
> >> > TIA.
> >> >
> >> > Harry
> >> >
> > 
> -- 
> 
> Harry F. Lockwood
> 
> 
> 
> 
> [Non-text portions of this message have been removed]
>

Very creative, Duane.  And I think the IRS would agree to that during the
inevitable audit.
I suspect they would claim (correctly) that I¹m not a pro photographer, just
a hobbyist looking to support my retirement activities.
No, I think I¹ll simplify the process, take a (small) financial hit and
avoid an audit.  And pat myself on the back for my generosity.

Harry


On 6/14/07 10:52 PM, "dlruckus" <dlruckus@...> wrote:
> 
> 
> Actually Harry. It wouldn't quite be a wash. You would be deducting
> all your production cost up front as a business expense on the sale as
> well as some proportion as overhead etc just as any other business
> would do on a merchandise sale. Since the transactions are totally
> independent, you would be able to treat the cash gift as just that and
> it would be fully deductible. So you would be able to,in a sense,
> double dip,perfectly legally. Your action would have the effect of
> causing Uncle Sam to help in the contribution. How's that for a bit of
> the butterfly wings/windstorm connection?
> 
> Regards
> Duane
> 
> --- In DigitalBlackandWhiteThePrint@yahoogroups.com
> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , Harry Lockwood
> <hflockwood@...> wrote:
>> >
>> > The way around this is to sell at the materials cost, and then
> donate the
>> > proceeds.  But thatï¿1Ž2s the same as simply donating the collection and
>> > claiming the materials cost.  However, keeping the price that low will
>> > enhance the probability of sales, hence income to the arts center.
>> > 
>> > Thanks to everyone for your time and valuable advice.  As Tyler
> suggested, I
>> > should perhaps focus on generosity to the arts center, which I will do.
>> > 
>> > Harry
>> > 
>> > 
>> > On 6/13/07 6:25 PM, "Brian Ellis" <bellis60@...> wrote:
>> > 
>>> > >  
>>> > >  
>>> > >  
>>> > > 
>>> > > "Why don't you just sell images
>>> > > (indicating on the price card that the proceeds will be donated), and
>>> > > donate the proceeds back to the art center as cash and value your
>>> > > donation as the actual cash sale. That way you get the full deduction
>>> > > of the sale price, the sale validates the amount of the reduction,
>>> > > and the art center gets cash for the building fund."
>>> > > 
>>> > > Because there would be a taxable gain on the sale, which would
> offset the
>>> > > charitable contribution deduction and the whole thing would be a wash.
>>> > > 
>>> > > ----- Original Message -----
>>> > > From: "richardeskin" <richeskinphoto@...
>>> > > <mailto:richeskinphoto%40comcast.net> >
>>> > > To: <DigitalBlackandWhiteThePrint@yahoogroups.com
>>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com>
>>> > > <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> >
>>> > > Sent: Wednesday, June 13, 2007 8:14 PM
>>> > > Subject: [Digital BW] Re: Valuing Prints
>>> > > 
>>> > > It isn't clear whether the images are being donated to be hung in
>>> > > their new or refurbished building, or as a cash contribution to the
>>> > > building fund.  If the latter why don't you just sell images
>>> > > (indicating on the price card that the proceeds will be donated), and
>>> > > donate the proceeds back to the art center as cash and value your
>>> > > donation as the actual cash sale. That way you get the full deduction
>>> > > of the sale price, the sale validates the amount of the reduction,
>>> > > and the art center gets cash for the building fund. Any images not
>>> > > sold can be donated after the exihibit at material value or, in
>>> > > appreciation for your donation, to be permanently exhibited in the
>>> > > new building.
>>> > > 
>>> > > --- In DigitalBlackandWhiteThePrint@yahoogroups.com
>>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com>
>>> > > <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , "hflockwood"
>>> > > <hflockwood@> wrote:
>>>>> > >> >
>>>>> > >> > In a juried process, I was selected to exhibit my (B&W) prints at a
>>> > > non-profit art center in VT
>>>>>>> > >>> >>
>>>>> > >> > Since the center is in the midst of a fund raising effort, I'm
>>> > > contemplating donating the entire
>>>>> > >> > collection to their building fund, rather than trying to sell
>>> > > them.  Obviously, this raises the
>>>>> > >> > question of how to value the collection for tax purposes..
>>>>> > >> >
>>>>> > >> > So, if I am to claim a charitable deduction, how do I value the
>>> > > donation?  The center has
>>>>> > >> > agreed that $400 per print, or $10,000 for the collection, would be
>>> > > easily justified.
>>>>> > >> >
>>>>> > >> > I'm looking for guidance from others who may have faced a similar
>>> > > situation.
>>>>> > >> >
>>>>> > >> > TIA.
>>>>> > >> >
>>>>> > >> > Harry
>>>>> > >> >
>>> > > 
>> > -- 
>> > 
>> > Harry F. Lockwood
>> > 


-- 

Harry F. Lockwood




[Non-text portions of this message have been removed]

Well,of course,to each his own but one who sells things,declares the
money earned as income, and takes the appropriate expense deductions
is, by definition, a pro.That is recognised even by the friendly IRS
folks. The hobbiest rules you refer to only come after too many years
without taxable profits shown. I made the assumption that you would
have done the right thing and declared the income.
 It's a time honored and honorable practice of small business men to
donate money to their favorite charitys. Where do you suppose the
funds come from and how were they initially gained? It isn't
particularly creative. It is just an accurate description of what
actually happens anytime any business person gives money.
That said,it's off topic here so enough. I'm sure your donation will
be appreciated in whatever form.
 
Regards
Duane




--- In DigitalBlackandWhiteThePrint@yahoogroups.com, Harry Lockwood
<hflockwood@...> wrote:
>
> Very creative, Duane.  And I think the IRS would agree to that
during the
> inevitable audit.
> I suspect they would claim (correctly) that I¹m not a pro
photographer, just
> a hobbyist looking to support my retirement activities.
> No, I think I¹ll simplify the process, take a (small) financial hit and
> avoid an audit.  And pat myself on the back for my generosity.
> 
> Harry
> 
> 
> On 6/14/07 10:52 PM, "dlruckus" <dlruckus@...> wrote:
> > 
> > 
> > Actually Harry. It wouldn't quite be a wash. You would be deducting
> > all your production cost up front as a business expense on the sale as
> > well as some proportion as overhead etc just as any other business
> > would do on a merchandise sale. Since the transactions are totally
> > independent, you would be able to treat the cash gift as just that and
> > it would be fully deductible. So you would be able to,in a sense,
> > double dip,perfectly legally. Your action would have the effect of
> > causing Uncle Sam to help in the contribution. How's that for a bit of
> > the butterfly wings/windstorm connection?
> > 
> > Regards
> > Duane
> > 
> > --- In DigitalBlackandWhiteThePrint@yahoogroups.com
> > <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , Harry
Lockwood
> > <hflockwood@> wrote:
> >> >
> >> > The way around this is to sell at the materials cost, and then
> > donate the
> >> > proceeds.  But thatï¿1Ž2s the same as simply donating the
collection and
> >> > claiming the materials cost.  However, keeping the price that
low will
> >> > enhance the probability of sales, hence income to the arts center.
> >> > 
> >> > Thanks to everyone for your time and valuable advice.  As Tyler
> > suggested, I
> >> > should perhaps focus on generosity to the arts center, which I
will do.
> >> > 
> >> > Harry
> >> > 
> >> > 
> >> > On 6/13/07 6:25 PM, "Brian Ellis" <bellis60@> wrote:
> >> > 
> >>> > >  
> >>> > >  
> >>> > >  
> >>> > > 
> >>> > > "Why don't you just sell images
> >>> > > (indicating on the price card that the proceeds will be
donated), and
> >>> > > donate the proceeds back to the art center as cash and value
your
> >>> > > donation as the actual cash sale. That way you get the full
deduction
> >>> > > of the sale price, the sale validates the amount of the
reduction,
> >>> > > and the art center gets cash for the building fund."
> >>> > > 
> >>> > > Because there would be a taxable gain on the sale, which would
> > offset the
> >>> > > charitable contribution deduction and the whole thing would
be a wash.
> >>> > > 
> >>> > > ----- Original Message -----
> >>> > > From: "richardeskin" <richeskinphoto@
> >>> > > <mailto:richeskinphoto%40comcast.net> >
> >>> > > To: <DigitalBlackandWhiteThePrint@yahoogroups.com
> >>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com>
> >>> > > <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> >
> >>> > > Sent: Wednesday, June 13, 2007 8:14 PM
> >>> > > Subject: [Digital BW] Re: Valuing Prints
> >>> > > 
> >>> > > It isn't clear whether the images are being donated to be
hung in
> >>> > > their new or refurbished building, or as a cash contribution
to the
> >>> > > building fund.  If the latter why don't you just sell images
> >>> > > (indicating on the price card that the proceeds will be
donated), and
> >>> > > donate the proceeds back to the art center as cash and value
your
> >>> > > donation as the actual cash sale. That way you get the full
deduction
> >>> > > of the sale price, the sale validates the amount of the
reduction,
> >>> > > and the art center gets cash for the building fund. Any
images not
> >>> > > sold can be donated after the exihibit at material value or, in
> >>> > > appreciation for your donation, to be permanently exhibited
in the
> >>> > > new building.
> >>> > > 
> >>> > > --- In DigitalBlackandWhiteThePrint@yahoogroups.com
> >>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com>
> >>> > > <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> ,
"hflockwood"
> >>> > > <hflockwood@> wrote:
> >>>>> > >> >
> >>>>> > >> > In a juried process, I was selected to exhibit my (B&W)
prints at a
> >>> > > non-profit art center in VT
> >>>>>>> > >>> >>
> >>>>> > >> > Since the center is in the midst of a fund raising
effort, I'm
> >>> > > contemplating donating the entire
> >>>>> > >> > collection to their building fund, rather than trying
to sell
> >>> > > them.  Obviously, this raises the
> >>>>> > >> > question of how to value the collection for tax purposes..
> >>>>> > >> >
> >>>>> > >> > So, if I am to claim a charitable deduction, how do I
value the
> >>> > > donation?  The center has
> >>>>> > >> > agreed that $400 per print, or $10,000 for the
collection, would be
> >>> > > easily justified.
> >>>>> > >> >
> >>>>> > >> > I'm looking for guidance from others who may have faced
a similar

> >>> > > situation.
> >>>>> > >> >
> >>>>> > >> > TIA.
> >>>>> > >> >
> >>>>> > >> > Harry
> >>>>> > >> >
> >>> > > 
> >> > -- 
> >> > 
> >> > Harry F. Lockwood
> >> > 
> 
> 
> -- 
> 
> Harry F. Lockwood
> 
> 
> 
> 
> [Non-text portions of this message have been removed]
>

Duane,

I sincerely apologize if my response seemed critical of your suggestion;
that wasn’t my intention.  Your suggestion is indeed a legitimate approach,
but I’ve been audited by the IRS before, and the process was burdensome.
(Nonetheless, I won; they lost.)  I’d prefer to avoid an audit, even if I
thought I could win the case.  After all, the price isn’t that high.

And I agree, enough of this OT subject.

Harry


On 6/16/07 1:02 AM, "dlruckus" <dlruckus@...> wrote:
> 
> Well,of course,to each his own but one who sells things,declares the
> money earned as income, and takes the appropriate expense deductions
> is, by definition, a pro.That is recognised even by the friendly IRS
> folks. The hobbiest rules you refer to only come after too many years
> without taxable profits shown. I made the assumption that you would
> have done the right thing and declared the income.
>  It's a time honored and honorable practice of small business men to
> donate money to their favorite charitys. Where do you suppose the
> funds come from and how were they initially gained? It isn't
> particularly creative. It is just an accurate description of what
> actually happens anytime any business person gives money.
> That said,it's off topic here so enough. I'm sure your donation will
> be appreciated in whatever form.
>  
> Regards
> Duane
> 
> --- In DigitalBlackandWhiteThePrint@yahoogroups.com
> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , Harry Lockwood
> <hflockwood@...> wrote:
>> >
>> > Very creative, Duane.  And I think the IRS would agree to that
> during the
>> > inevitable audit.
>> > I suspect they would claim (correctly) that I¹m not a pro
> photographer, just
>> > a hobbyist looking to support my retirement activities.
>> > No, I think I¹ll simplify the process, take a (small) financial hit and
>> > avoid an audit.  And pat myself on the back for my generosity.
>> > 
>> > Harry
>> > 
>> > 
>> > On 6/14/07 10:52 PM, "dlruckus" <dlruckus@...> wrote:
>>> > > 
>>> > > 
>>> > > Actually Harry. It wouldn't quite be a wash. You would be deducting
>>> > > all your production cost up front as a business expense on the sale as
>>> > > well as some proportion as overhead etc just as any other business
>>> > > would do on a merchandise sale. Since the transactions are totally
>>> > > independent, you would be able to treat the cash gift as just that and
>>> > > it would be fully deductible. So you would be able to,in a sense,
>>> > > double dip,perfectly legally. Your action would have the effect of
>>> > > causing Uncle Sam to help in the contribution. How's that for a bit of
>>> > > the butterfly wings/windstorm connection?
>>> > > 
>>> > > Regards
>>> > > Duane
>>> > > 
>>> > > --- In DigitalBlackandWhiteThePrint@yahoogroups.com
>>> <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com>
>>> > > <mailto:DigitalBlackandWhiteThePrint%40yahoogroups.com> , Harry
> Lockwood
>>> > > <hflockwood@> wrote:
>>>>> > >> >
>>>>> > >> > The way around this is to sell at the materials cost, and then
>>> > > donate the
>>>>> > >> > proceeds.  But thatï¿1Ž2s the same as simply donating the
> collection and
>>>>> > >> > claiming the materials cost.  However, keeping the price that
> low will
>>>>> > >> > enhance the probability of sales, hence income to the arts center.
>>>>> > >> > 
>>>>> > >> > Thanks to everyone for your time and valuable advice.  As Tyler
>>> > > suggested, I
>>>>> > >> > should perhaps focus on generosity to the arts center, which I
> will do.
>>>>> > >> > 
>>>>> > >> > Harry
>>>>> > >> > 
>>>>> > >> > 
>>>>> > >> > On 6/13/07 6:25 PM, "Brian Ellis" <bellis60@> wrote:
>>>>> > >> > 
>>>>>>> > >>> > >  
>>>>>>> > >>> > >  


-- 

Harry F. Lockwood




[Non-text portions of this message have been removed]