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What are the chances of the IRS auditing me if I claim whaling expenses?
Just came across this in IRS Publication 526, Charitable Contributions:
Expenses of Whaling Captains
You may be able to deduct as a charitable contribution any reasonable and necessary whaling expenses you pay during the year to carry out sanctioned whaling activities. The deduction is limited to $10,000 a year. To claim the deduction, you must be recognized by the Alaska Eskimo Whaling Commission as a whaling captain charged with the responsibility of maintaining and carrying out sanctioned whaling activities.
Sanctioned whaling activities are subsistence bowhead whale hunting activities conducted under the management plan of the Alaska Eskimo Whaling Commission.
Whaling expenses include expenses for:
- Acquiring and maintaining whaling boats, weapons, and gear used in sanctioned whaling activities,
- Supplying food for the crew and other provisions for carrying out these activities, and
- Storing and distributing the catch from these activities.
You must keep records showing the time, place, date, amount, and nature of the expenses. For details, see Revenue Procedure 2006-50, which is on page 944 of Internal Revenue Bulletin 2006-47 at www.irs.gov/pub/irs-irbs/irb06-47.pdf.
You may be able to deduct as a charitable contribution any reasonable and necessary whaling expenses you pay during the year to carry out sanctioned whaling activities. The deduction is limited to $10,000 a year. To claim the deduction, you must be recognized by the Alaska Eskimo Whaling Commission as a whaling captain charged with the responsibility of maintaining and carrying out sanctioned whaling activities.
Sanctioned whaling activities are subsistence bowhead whale hunting activities conducted under the management plan of the Alaska Eskimo Whaling Commission.
Whaling expenses include expenses for:
- Acquiring and maintaining whaling boats, weapons, and gear used in sanctioned whaling activities,
- Supplying food for the crew and other provisions for carrying out these activities, and
- Storing and distributing the catch from these activities.
You must keep records showing the time, place, date, amount, and nature of the expenses. For details, see Revenue Procedure 2006-50, which is on page 944 of Internal Revenue Bulletin 2006-47 at www.irs.gov/pub/irs-irbs/irb06-47.pdf.
Btw, I live in Georgia, a few hundred miles from the coast. But maybe they won't notice.
- Cap'n Klook
9 replies
= new reply since forum marked as read
= new reply since forum marked as read
I can deduct the cost of this book, too! Cool - thanks for the idea!!
Not my fault, man! Call off the auditors.
This only bolsters my case! I'm sure if I end up in a courtroom with a science-challenged Republican judge, it won't be that hard to get off.
I can just add a couple of arrows to this image:
