Update: We have a winner! It’s Chrisa! For the answer, see the comments!
Our next tax trivia question for the giveaway is:
The Tax Code was amended for years beginning after December 31, 2003, to allow a charitable contribution deduction for expenses incurred in the hunting of what animal?
The first correct answer wins free CCH tax prep software.
Remember that you have to comment on the actual post, not on email, Twitter or Facebook, in order to win (though feel free to comment that way for fun). You can read the rules for the giveaway and more about the prizes here.
What’s your guess?
deer
Whales
Section 170(n) is effective for contributions after December 31, 2004 though, so it might not be whaling.
Fishing?
Whaling expenses
Jackelope? Capivara? Snipe?
Bowhead Whale
Go Girl.
Lowell
Whales
That’s a funny question. I’m gonna say it’s snipe. But you have to catch one to get the deduction.
Dave beat me to my brilliant answer. Curse you, Dave!
As weird as it is, I’d think it would be whales (Big Eskimo sent off its legion of lobbyists and demanded the subsidy)
There was a time when the expenses incurred in bagging trophy game animals that were donated to charitable entities were deductible, but it didn’t specify one animal.
I was initially guessing coyotes, or some other animal that a politically powerful group (farmers/ranchers) deems detrimental. But the question made me check and see the whaling provision. At the same time I saw the taxidermy provision and was aware of the practice of donating mounts to museums. Would donating game meat to a food bank qualify as a charitable deduction, or only if it’s one business?
Pink Flamingo?
Nov. 30, 2009 press release from Senator Charles Schumer:
SCHUMER: TAX DEDUCTION FOR HUNTERS WHO DONATE GAME IS A WIN-WIN-WIN; WILL SAVE HUNTERS MONEY, FIGHT DEER OVERPOPULATION IN MOHAWK VALLEY AND HELP FEED THE HUNGRY
Schumer Introduces Legislation to Create Tax Deduction for Hunters Who Donate Their Venison
Processors Will Also Receive Important Tax Benefit To Make Processing Donated Venison More Affordable
Schumer: Hunting is an Economic Engine in New York State – Hunters and Processors Should be Rewarded For Helping the Community
U.S. Senator Charles E. Schumer today announced his legislation providing a tax benefit to hunters who donate their processed venison to anti-hunger programs. Schumer’s legislation will allow hunters to take a tax deduction for the cost of processing their venison, when the final product is donated. The legislation will also provide a tax benefit to processors who participate in venison donation programs by making all processing income they receive from charities – or the state – tax exempt. . .
More at http://schumer.senate.gov/new_website/record.cfm?id=320275
Thanks Dave! That’s good to know. I wasn’t implying that no other deductions existed but I was specifically targeting this amendment which took effect after December 31, 2003. Interestingly, while Schumer’s amendment requires folks to donate their kill to get the deduction, Stephens (as in Alaska Senator Ted) does not. It’s more about carrying on tradition – albeit a controversial one.
But sense you did so much homework and all, I’ll consider you a winner, too. Chrisa gets free tax software! And Dave gets free software! Now, I feel like Oprah.