The 2016 election day is finally here! In addition to showing your support today, you may have also chosen to make a financial contribution to your candidate of choice during their campaign. Though giving money to your candidate of choice is a great way to get involved in civic discourse, political donations are not tax deductible. According to the IRS:
" You can’t deduct contributions made to a political candidate, a campaign committee, or a newsletter fund. Advertisements in convention bulletins and admissions to dinners or programs that benefit a political party or political candidate aren’t deductible."
This includes Political Action Committees (PACs), as well. While you can’t write off campaign contributions, you can set aside $3 of your taxes to go to the Presidential Election Campaign Fund on your 1040 federal income tax return.
Read the article here: http://blog.turbotax.intuit.com/tax-deductions-and-credits-2/are-your-political-campaign-contributions-tax-deductible-11380/
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