Ask a CPA

Interest on loans to buy tax-exempt securities are not deductible.

No. Pre-paid business or investment interest must be amortized over the life of the loan. It may not be deducted in full in the year pre-paid.

No. The Assessment payments you paid your homeowner's association for maintaining common areas of the residential property, such as recreation or safety, are not deductible. Amounts paid are added to the tax basis of the home. The tax basis will be used in the year of the sale to determine the gain or loss on sale.

Automobile license fees paid based on the cars year, model weight or horsepower are not deductible. Automobile license fees paid based on the value of the car "ad valorem" are deductible property taxes on IRS Schedule A. If you live in one of the following "ad valorem" states contact your local CPA to verify the deductibility:

A check dated and mailed at the end of the year is a charitable deduction on IRS Schedule A in that same year.

A sport's organization that provides athletic equipment or facilities would not be considered a qualifying organization.
In general, qualifying organizations include, but are not limited to: Religious entities such as churches or synagogues; Charitable organizations such as the Salvation Army, Girl Scouts or Red Cross; Scientific/Educational entities such as hospitals or colleges;
Domestic such as non-profit veterans organizations; or a Fraternal lodge organization. Speak to your local CPA who has an IRS list of approved tax-exempt organizations.

You are allowed to claim the stocks as a charitable deduction on IRS Schedule A subject to AGI limitations the appreciated fair market value, not the cost.
The securities must be traded on a established securities market.

No. Contributions made to political campaigns, political action committees or lobbying committees are not deductible.

You may deduct the actual travel expenses or a mileage allowance of 14 cents a mile on IRS Schedule A as a non-cash contribution.

A donation that provides goods or services must have the fair market value of the goods or services deducted from the contribution amount.
The amount of the deduction is limited to the amount that exceeds the benefit.
The charitable deduction is limited to the amount of the donation, less the fair market value of the dinner and is deducted on IRS Schedule A contributions.