Pro Bono - deduction?

[Sherill]

I have completed many military tax forms, over the years, for no charge. May I use these as a business deductions? If so, where? Thank you.

[rosieea]

I have completed many military tax forms, over the years, for no charge. May I use these as a business deductions? If so, where? Thank you.

I believe that any deduction is limited to your actual costs, which you are probably already deducting as supplies, etc. You can't deduct anything for your time.

[Unregistered]

Gratis

Pro Bono is FREE, no deductions because you did not collect.
No income no deduction.
GRATIS

[Unregistered]

We all know what pro bono is.

However the fact of the matter is that time equals money, therefore he did NOT do it for free. He did not charge. Normally that would be considered a loss, or non-payment. In the case of "charity" or "pro bono" you can not write that off as lost income.

[OldJack]

We all know what pro bono is.

However the fact of the matter is that time equals money, therefore he did NOT do it for free. He did not charge. Normally that would be considered a loss, or non-payment. In the case of "charity" or "pro bono" you can not write that off as lost income.

You cannot write off "lost income" unless you also recognize the amount as taxable income which of course nets to zero. You have no case for deduction other than your actual costs (such as supplies) of providing the service.