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ATA life membership tax deductible?

Discussion in 'Uncategorized Threads' started by shark1, Sep 26, 2008.

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  1. shark1

    shark1 Member

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    Has any one joined the ATA life membership and taken the tax deduction. What does it get filed under? I tried calling the ATA for 2 days but, the individual's voice mail is full. Any help or answers are welcome.
    Thanks
    Mike Sharkey, DC
     
  2. Dickgshot

    Dickgshot Well-Known Member

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    The dues would be deductible as a charitable contribution included with your itemized deductions on Schedule A, Form 1040. The ATA needs to determine if part of the dues provide you with an economic benefit. That portion would not be deductible.
    I would guess that they will do that some time around the end of the year. My opinion is that you receive no economic benefit, so you can figure that they will be fully deductible.
     
  3. shark1

    shark1 Member

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    The ATA states on the renewal form that they are tax deductible on the lower right hand corner. It almost seems to good to be true. Pay the boys in Washington or pay the ATA. Would my big $90.00 in lewis money off set the amount? Thank you for responding.
    Mike Sharkey, DC
     
  4. spitter

    spitter Well-Known Member TS Supporters

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    I wouldn't think the Lewis Money would offset the dues deduction directly, but reported as income (gambling winnings) less documented gambling losses (if any). Would that be correct?!

    Jay
     
  5. Dickgshot

    Dickgshot Well-Known Member

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    Only gambling losses offset gambling winnings. Other expenses are not deductible, except for professional gamblers.
     
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