Is ATF Tax stamp fee tax deductible?

[sygata]

I mean, it is a tax, right? So I should be able to write it off?

 

[BradMacc82]

Good luck with that...

 

[mtel]

No sir, excise taxes aren't tax-deductible for individuals.

 

[whistlersmother]

Perhaps it should be ... A tax on a right - perhaps a court might strike down the tax and affirm the right (as if that would need to be affirmed)

 

[mtel]

At least that's my understanding of excise taxes for an individual.

Maybe as a business, you could apply that $200 towards the cost basis of the firearm to reduce the profit if you sell it. Just blue skying though. That's a question for an accountant.

 

[Biggfoot44]

Kicking it around , if the underlieing item itself were eligible to be a deductable business expense , it might be able to be included that way. Consult your tax advisor.

 

[Claybreaker 2]

Perhaps it should be ... A tax on a right - perhaps a court might strike down the tax and affirm the right (as if that would need to be affirmed)

Would this be the same court(Roberts) that upheld Obamacare's infringement on individual rights by rewriting it as a TAX?