No deduction for polictical donation, correct?

[AZ-Tax]

Just making sure individual TP cannot deduct political donation, correct?

[oceanlovin'ea]

not any more. That stopped a long time ago.

Linda EA

[AZ-Tax]

I guess this politician did not get memo....

So why didnt this politician inform the donor about it. Nope, cant discourage donations by only telling half the truth....

[ChEAr$]

not any more. That stopped a long time ago.

Linda EA

How long ago are you talking about? I can't remember when it was ever deductible.

[oceanlovin'ea]

In the 80's.....when I first did taxes. I remember for a year or two it was a deduction on page 2 separate from schedule A.

Linda, EA

[Burke]

So why didnt this politician inform the donor about it. Nope, cant discourage donations by only telling half the truth....

Check your state laws. Mine offers credit for state or local politician running for those offices. Seems like I remember a fed deduction eons ago, too. Maybe in 70's.

[thomtax]

No deduction, but up to $50 tax credit for each taxpayer and spouse for contributions to Arkansas political candidate.

LT

[ToledoEd]

Ohio allows $50 tax credit if you donate to a state wide office race, or the state party.

[ChEAr$]

In the 80's.....when I first did taxes. I remember for a year or two it was a deduction on page 2 separate from schedule A.

Linda, EA

I'll have to fish out the instructions back then to see, but I THINK it was for contributions to political parties, and not to certain candidates. Hmmmm... long time ago.

[David1980]

I'll have to fish out the instructions back then to see, but I THINK it was for contributions to political parties, and not to certain candidates. Hmmmm... long time ago.

Looks like 1986 was the last year,

http://www.irs.gov/pub/irs-prior/f1040--1986.pdf

Line 43
Partial Credit for Political Contributions for Which You Have Receipts
You may take a tax credit on this line for contributions to candidates for public office and to newsletter funds and political committees of candidates and elected public officials.
Caution: Do not take this credit for the $1 or $2 you checked to go to the Presidential Election Campaign Fund.
To figure your credit, add up the amounts you gave. Enter half of this total on line 43, but do not enter more than $50 ($100 if you are married and filing a joint return).
Note: You cannot deduct political contributions as charitable contributions.
For more information, please get Publication 585.

http://www.irs.gov/pub/irs-prior/i1040--1986.pdf

[oceanlovin'ea]

Thanks for looking that up. At least my long term memory is still in good shape. We won't talk about short term....... sometimes I think I am like Dory in Finding Nemo.

Linda, EA

[Jesse]

Yes, 1986 - isn't that when they started to phase out credit card interest too?

Just think how people could justify those credit card bills - it's a write off!

That is why our tax prep fee should be a straight out deduction - like gambling losses - nearly no one would complain about our fees then!

[DonPriebe]

In the 80's.....when I first did taxes. I remember for a year or two it was a deduction on page 2 separate from schedule A.

Linda, EA

Good memory! Line 38 on the 1980 1040.

[Roberts]

A contribution to any 3rd party should be a charitable donation since they never win.

jk

[FEDUKE404]

Federal long gone, but...

Several states, such as Virginia, currently allow tax benefits for certain political contributions.

You gotta read the fine print.......

FE