Can you deduct your child’s sports costs?
School sports can put a serious dent in your wallet, so there must be some type of deduction for all these costs, right? Unfortunately, that is not the case. Most extra-curricular and after-school sports and activities are not tax deductible. However, if your child participates in activities for profit, you may be able to make some deductions for associated costs. Be sure to follow proper IRS rules for where and how much you are able to deduct. You may also be able to make some deductions if the sports program is taking the place or acting as child care, allowing you to work. Volunteering and participating in your child’s sporting event may also lead to other deductions for qualifying charitable organizations. (Check the IRS website for a list of charitable organizations.) You may not deduct the value of your time, however you may be able to deduct transportation/travel expenses and uniform/related accessories expenses, if you were unreimbursed for these purchases and they were used only for the volunteering event. There are strict rules that determine when uniform costs may be deducted so be sure to do your research on the IRS site under charitable donations before filling out your tax forms. In order for your volunteering to qualify, you need to actually be doing work that you would be performing for any other charity. Be sure to keep all related records and receipts for your volunteering events.
For more information, follow the link to the original Forbes article here