What to do with Moderns when you're done collecting?

[Mr. Zipper]

pull out the staple and use them as gift wrap.

 

! Donate them to Comics4Kids and enjoy the tax write-off.

 

Best idea. Depending on what tax bracket you're in, the value of the write off can be much more than you'll get on ebay. For instance, if you can deduct $3 for a modern comic, the net effect is $1 refund on your taxes presuming a 30% federal tax bracket.

 

I've donated a ton of stuff (cloths, books, computer, tools) to my local Salvation Army and City Mission, and I keep track of my donations using H&R Blocks DeductionPro software. The best $20 you'll ever spend and you can even deduct the cost of the software (tax preparation programs are deductable.)

 

However, I've never donated comics, but the Comics4KIds sounds like a great way to give, get back on taxes and clear out clutter.

 

What are the valuation rules for donating comics? Does one claim fair market value? Cover price?

[precodekeith]

I give some away for Trick or treat every year at Halloween. If we don't get the kids into comics now, where will comics be 25 years from now?

[tilleycs]

I've donated a ton of stuff (cloths, books, computer, tools) to my local Salvation Army and City Mission...

 

Same here. We're constantly donating books to the local library, all kinds of stuff to the Salvation Army, and we've donated furniture & appliances to a local charity called Haven House, which sets up apartments for at-risk teens who have had to leave bad homelife situations. Donating things really is a win/win for everyone involved.

 

However, I've never donated comics, but the Comics4KIds sounds like a great way to give, get back on taxes and clear out clutter.

 

Couldn't agree with you more! They donate comics to kids and to adults in hospice situations. I think it's a great opportunity to share the hobby you love with either kids who will hopefully enjoy the stories & characters as much as we do/did, or with adults in terminal situations who can hopefully find comfort & escape in their last days.

 

What are the valuation rules for donating comics? Does one claim fair market value? Cover price?

 

Excellent question, and one I fortunately have an answer for. Comics4Kids will determine the value and send you a letter with the total amount for your tax records. I think they assign a value of $2/book for most common books (which you'd never get from a lot of them on ebay), a higher value for more valuable issues, and cover price for TPBs and GNs.

 

Hope that helps. You can get more info from their website (www.comics4kids.org).