Tax question

Discussion in 'Off-Topic' started by 1100011CS, Mar 8, 2011.

  1. 1100011CS

    1100011CS Well-Known Member

    Oct 5, 2007
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    Obviously I'll be asking my tax preparer about this too but I don't meet with her until next week and I can't wait.

    My brother-in-law claims that you can (and he does) write off equipment, fees, travelling expenses, etc... for athletic activities that your kids participate in. He told my wife this and I told her he's FOS. What say you?
     
  2. GoCubsGo

    GoCubsGo Well-Known Member

    Jul 22, 2008
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    He's going to be in a world of hurt if he ever gets audited. Is he trying to claim that his kid is going to be a professional athlete, and therefore those are business expenses?
     
  3. TykeClone

    TykeClone Burgermeister!

    Oct 18, 2006
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    Maybe in Canada :wink: Canada's New Government Establishes Program Eligibility for the Children's Fitness Tax Credit

    In Iowa, you can in some cases.

    Iowa Department of Revenue 1040 Instructions 2010

    Some eligible things...
    Some ineligible things
     
  4. 1100011CS

    1100011CS Well-Known Member

    Oct 5, 2007
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    His kids are 9 and 7
     
  5. 1100011CS

    1100011CS Well-Known Member

    Oct 5, 2007
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    #5 1100011CS, Mar 8, 2011
    Last edited: Mar 8, 2011
    You're telling me that I can deduct football, soccer, and baseball shoes? That's half the expenses right there.

    Wait, are sports outside of school considered "extracurricular activities"? We're talking Little League baseball, peewee soccer, etc... Not school sponsored activities.

     
  6. IsUaClone2

    IsUaClone2 Well-Known Member

    May 12, 2006
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    No way.

    The only way that I could spin this is if your brother-in-law had a league in which he provided the equipment and he combined that with a revenue model (either entry fees or ticket sales) that could be expected to off-set the expenses (at least sometime in the future).
     
  7. TykeClone

    TykeClone Burgermeister!

    Oct 18, 2006
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    Ask your tax preparer that :wink:

    If it's not school sponsored, you might have a harder time justifying it.
     
  8. intrepid27

    intrepid27 Well-Known Member

    Oct 9, 2006
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    Marion, IA
    When my kids were in school our tax guy did this. He said baseball and football spikes as well as wrestling shoes, singlets, etc are no problem. Basketball shoes are a bit dicey as they can be worn as street shoes as well.
     
  9. 1100011CS

    1100011CS Well-Known Member

    Oct 5, 2007
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    Were these "school sponsored" athletics?
     
  10. Clark

    Clark Well-Known Member

    Jun 24, 2009
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    It's not a deduction, it's a credit for up to $250 per child (technically it's 25% of the first 1,000 in qualified expenses)

    And yeah, I would assume it would have to be a school sponsered athletic activity for the cleats to qualify but I don't know that for sure.
     
  11. BooneCy

    BooneCy Well-Known Member

    May 30, 2006
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    This. It needs to be school sponsored and it is not a deduction, you are qualifying for the credit.
     

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