Tax Stamps Are NOT Tax Deductible

[Lazarus]

This being tax season and me seeing so many threads about you guys with lots of stamps pending I was wondering if the tax you pay is deductible on your taxes and I don't think it is.

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

Some taxes and fees you cannot deduct on Schedule A include federal income taxes, social security taxes, transfer taxes (or stamp taxes) on the sale of property

That last part is a little foggy for me though because we aren't selling property, we aren't buying, no?

 

[The Bandit]

Lol glad I wasn't the only one who researched this.

 

[Lazarus]

Lol glad I wasn't the only one who researched this.

 

[KauaiGirl_19]

That's interesting to know.. Too bad though

 

[EchoFiveIndia]

It is if you have an employer that requires you to carry and be proficient with a firearm... Work related protective equipment! Don't won't to make that USMC related hearing loss any worse. That's my story and I'm sticking to it.