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Posted: 10/12/2012 11:49:32 AM EDT

Is the $200 BATF Form 4 transfer fee deductible from income on Form 1040?

Thanks.

Posted: 10/12/2012 11:50:21 AM EDT

[#1]

Nope

Posted: 10/12/2012 11:52:58 AM EDT

[#2]

Quoted:
Nope

Posted: 10/12/2012 11:56:58 AM EDT

[#3]

For business use probably, for personal, no different than the excise taxes on gas, booze, guns, etc. I have asked the accountant and tax lawyers this before.

Posted: 10/12/2012 11:57:53 AM EDT

[#4]

Quoted:
For business use probably, for personal, no different than the excise taxes on gas, booze, guns, etc. I have asked the accountant and tax lawyers this before.

For a business you would count it towards the basis of the asset.

Posted: 10/12/2012 12:04:57 PM EDT

[#5]

Quoted:

Quoted:
For business use probably, for personal, no different than the excise taxes on gas, booze, guns, etc. I have asked the accountant and tax lawyers this before.

For a business you would count it towards the basis of the asset.

I believe the one exemption may be a type one FFL w/out a SOT who does a transfer for a customer.

IRS Topic 503

covers it IIRC

ETA: From memory, haven't looked at the rules in a few years so I could be outta my lane (hey, you got what you paid for

)

Posted: 10/12/2012 12:14:30 PM EDT

[#6]

No, it is not tax deductible. No transfer taxes are deductible. You can't even consider it a hobby expense for the purpose of claiming hobby losses to offset hobby gains.

Posted: 10/12/2012 3:11:47 PM EDT

[#7]

Thanks guys.

-Danner

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