Is the $200 tax stamp deductible?

[Hershmeister]

Doing my taxes and wondering if there was a way to claim the Nfa stamp?

[Capbyrd]

Stolen from elsewhere

From http://www.irs.gov/taxtopics/tc503.html

"Taxes and fees you cannot deduct on Schedule A include Federal income taxes, social security taxes, stamp taxes, or transfer taxes on the sale of property, homeowner's association fees, estate and inheritance taxes and service charges for water, sewer, or trash collection. You may be subject to a limit on some of your itemized deductions including nonbusiness taxes. Please refer to the Form 1040 Instructions for the limitations based on the adjusted gross income."

[RWF]

hmm, our accountant has always deducted it as a firearms tax, not saying its right or wrong or on a different schedule. but no issues so far. and as i understand with her certification with IRS she gets her data base from IRS each year.

like i said do not know, that is what she gets paid for.

[broylz]

ive been told its a deduction by a guy with a trust. not sure if that applies to trusts similar to a business? maybe it is just deductible.

[Guest mswicord]

I've always been told that you can deduct all taxes paid (state income, auto, property); I would think the stamp tax could be also......check the irs web site.

[Hershmeister]

Stolen from elsewhere

From http://www.irs.gov/taxtopics/tc503.html

"Taxes and fees you cannot deduct on Schedule A include Federal income taxes, social security taxes, stamp taxes, or transfer taxes on the sale of property, homeowner's association fees, estate and inheritance taxes and service charges for water, sewer, or trash collection. You may be subject to a limit on some of your itemized deductions including nonbusiness taxes. Please refer to the Form 1040 Instructions for the limitations based on the adjusted gross income."

Thanks! Sadly the IRS makes it crystal clear. Bummer

[monkeylizard]

It makes it crystal clear that it can't be deducted on Schedule A (presumably of Form 1040). That doesn't mean there's not some other form in the complex IRS library where you could deduct it.