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Is a varmint gun tax deductible?
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jakescia
Posted 12/4/2012 11:15 (#2732375 - in reply to #2732058)
Subject: Sure--- but I would pay attention to the rules surrounding "listed property"..........



Oskaloosa, Iowa 52577

A portion of a personal auto.........or an auto that can be used personally as compared to "obviously business only"...........is deductible for business..........but...........

you have to prove the business portion.

Code Section 280F defines listed property.......which includes property used for entertainment........and Section 274(d) provides rules for substantiation of the business use thereof.

So.........read Code section 274 especially, and decide whether or not you want to do the documentation necessary to avoid an "accuracy-related penalty"..........which most likely would be assessed in addition to the additional income taxes when/if it gets thrown out.




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