IRS---Music

Discussion in 'General Lounge' started by tea, Jan 25, 2003.

  1. tea

    tea Well-Known Member

    I vaguely heard on the news were a person could use music/ music they buy as a write-off. A receipt is not needed for this write-off. However, I did not get the entire news story. If you anyone has any info that would greatly appreciated.........Thanks!
     
  2. luckymom

    luckymom Well-Known Member

    I would LOVE to see this! You probably have to spend more than 800% of your AGI on it though!! lol

    I bet you can technically deduct it as a "medical expense" some consider music therepeutic (sp?) and essential for health. However, to get any benefit from a medical expense, you must itemize and have total itemizations of more than your standard deduction, and you are only allowed to claim medical expenses above 7.5% of your AGI.

    I am not an attorney and you can find the facts at irs.gov
     
  3. luckymom

    luckymom Well-Known Member

    double post
     

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