I am a reserve police officer in Texas. I do not get paid but I volunteer and perform the same functions as the full time paid officers. I have spent my personal money for guns, duty belt, gas back and forth, equipment, etc. Can I tax deduct these items and if so what IRS form would I use? Am I considered employed even though I'm not paid?
2006-10-30 07:12:20 · 5 answers · asked by FL_FunGuy 2 in Business & Finance ➔ Taxes ➔ United States
The out-of-pocket expenses for volunteering for a qualified organization, which yours would most likely be, are deductible, including mileage at a rate reduced from the business mileage allowed.
The person who said that the value of your time might be deductible is incorrect. Deduction of the value of time spent volunteering is specifically prohibited.
And yes, these are considered charitable contributions, so are only deductible if you itemize.
2006-10-30 13:31:47 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
In addition to mortgage interest, real estate tax paid also counts as an itemized deduction. If you purchased your home after 4-8-08, you might qualify for the First Time Homebuyer Credit. This can be worth up to $7,500, but there are strings attached. It is actually an interest free loan which must be repaid over the next 15 years, and if you move the entire amount becomes due. Edited to add: I forgot to mention that several of the above answers are incorrect regarding the Personal Energy Property Credit (ie: a credit of up to $500 windows, heat pumps, etc.). That credit will be available again for 2009. nut was not available for 2008.
2016-05-22 12:06:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, they are deductible on form 2106-Unreimbursed business expenses if they are required for the job, whether you are paid or not. That said, be sure you have documentation of all expenses and the fact you are indeed a volunteer officer as Form 2106 without corresponding income can be a flag that might trigger the IRS to look a bit closer at your return. You MAY also be able to deduct the value of your time as a charitable donation to your town. Check www.irs.gov and download the pamphlets on charitable donations.
2006-10-30 07:27:08 · answer #3 · answered by Anonymous · 0⤊ 1⤋
They are deductible as out of pocket charitable contributions. Since you don't get paid you are an employee and can't use form 2106.
2006-10-30 07:33:04 · answer #4 · answered by waggy_33 6 · 1⤊ 0⤋
I usually dont answer question unless im 100 % certian but...
It is most like deductable as misco deduction on Sch A
Saying it is a charitable contribrution was a stupid answer you will go to jail or be penalized if caught with that.
2006-10-30 12:06:14 · answer #5 · answered by Anonymous · 0⤊ 1⤋