1. I purchased a plane ticket for my daughter to attend my Mom's, her grandmothers, funeral last November. Can I deduct as "gift" $$monies paid for ticket? I have never deducted 'gifts'.....if can do, presume I do on Schedule A, Gifts to Charity, line 16.
2. I live in CO, Dad in VA. He diagnosed with terminal cancer. I traveled to VA to help take care of Dad at home. Can I deduct expenses; plane ticket, car rental, etc. of my travel/visit?
If so, where do I enter on Fed. 1040, and/or Schedule A??
Your daughter is not a charitable organization (even if it feels like it sometimes). You do not get a tax break for giving her money.
Deducting "gift tax" is just that. On large gifts you may be requried to actualy pay an extra tax. You can deduct that tax if that happens. You don't get a tax write off for giving things to your friends and relatives - only for the extra tax you pay on large gifts (if you haven't filed a gift tax return, then this doesn't apply to you).
There is also not a deduction for travel to visit family. If your dad had to travel to see a doctor it would be a medical expense, but your travel to visit and help out is not.
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Gift tax deductions from the uniform lifetime credit are bad. The lower your uniform lifetime 5 million dollar estate deduction. The good news is that gifts from one individual to another which are less than $13,000 don't reduce the uniform credit.
Gifts are not deductible for income tax purposes. The trip in #2 should not be deductible because it is not purely medical. If you were taking a sick person to the doctor that is a direct and very different expense.
Curt Harrington Patent & Tax Law Attorney Certified Tax Specialist by the California Board of Legal Specialization PATENTAX.COM This communication is general information and not legal advice, and does not create an attorney-client relationship. This communication should not be relied upon as any type of legal advice. Please note that no attorney-client relationship exists between the sender and the recipient of this message in the absence of either (1) a signed fee contract and (2) remission of an agreed-upon retainer. Absent such an agreement and retainer, I am not engaged by you as an attorney, nor is any other member of my law firm.
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