Tax question. 1040/NFA related.

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bajagringo Member Joined Mar 2011 Posts 6884 EE 100% (63) MEX	Posted: 4/11/2023 10:05:23 PM EDT Can the tax paid for a NFA tax stamp be deducted from ordinary income? Thanks.
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JohnClarkUSN Joined Jun 2022 Posts 4661 EE 0% (0) RUS	Posted: 4/11/2023 10:29:15 PM EDT [#1] "Other taxes paid" Do you itemize?

shortround Member Joined Nov 2000 Posts 3352 EE 100% (3) MI, USA	Posted: 4/11/2023 10:35:13 PM EDT [Last Edit: shortround] [#2] I don't think so, It's an excise tax. Excise Tax Gun Trust Questions
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KILLERB6 Member Joined Jan 2002 Posts 60439 EE 100% (6) USA	Posted: 4/11/2023 10:56:32 PM EDT [#3] No.
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Bubbles Luv C3! Joined Jan 2001 Posts 42223 EE 100% (1) WV, USA	Posted: 4/12/2023 10:07:57 AM EDT [#4] Not as a non-licensee, no. If you have an FFL without an SOT and you need to do one Title II transfer for a customer, it could be a business expense depending on how the payment was handled.
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Tax question. 1040/NFA related.

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