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msar-riders - Re: [MSAR] tax deductions (USA only)

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  • From: Una Smith <una.smith@att.net>
  • To: Mounted search and rescue <msar-riders@lists.ibiblio.org>
  • Subject: Re: [MSAR] tax deductions (USA only)
  • Date: Thu, 27 Jan 2011 13:33:44 -0700

To claim deductions you have to itemize, so you can't use the 1040 short
forms. Deductions go on the 1040 Schedule A.

If you itemize, you cannot claim the standard deduction. For many people,
whether or not it makes sense to itemize will depend on the size of their
mortgage or medical bills that year. In some years I have had SAR related
expenses that I could deduct if I itemized, but it worked out in my favor
not to itemize. Try to decide this first, before doing a lot of paperwork.

You can deduct everything, apportioned by how much "use" of your horse is
for charitable purposes rather than recreation. Some people deduct every
expense, including capital and operating costs of the truck and trailer
and horse too.

Most years, I deduct vehicle miles. My horsekeeping costs are very low,
so I do not bother deducting them. They are borderline worth the bother
of maintaining adequate records, and there is the issue of how to defend
the deduction if audited. Kimberly Kelly has posted (here? or on SAR-L)
about having successfully defended her MSAR related deductions in a tax
audit.

Una Smith
New Mexico




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