Total Drag: Medical Pot Isn't Tax Deductible

By Caleb Newquist

Posted Aug 5, 2010 4:49 PM CDT Posted Aug 5, 2010 4:49 PM CDT
Promoted on Newser Aug 5, 2010 5:01 PM CDT

Copied

Total Drag: Medical Pot Not Deductible for Taxes — If you've got this at home, don't even think about deducting it. (AP)

After a little bit of confusion—thanks to a vaguely worded letter from the IRS on the use of an "herb"—it was re-confirmed marijuana is not eligible for deduction on citizens' personal tax returns. Even in states where it can be legally prescribed by a doctor. Read the full article at Going Concern.

Read These Next

For these factory workers, an unexpected windfall.
A request to turn off football game ends in a murder-suicide.
JonBenet Ramsey's dad hasn't given up hope in case just yet.
Edited version of It's a Wonderful Life has viewers perplexed.

Report an error