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My question is-in reference to the Presidential Election-

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My question is-in reference to...
My question is-in reference to the Presidential Election- Mr. Trump has made the statement and continues to remind the American Public that he accepting no donations for his campaign. IF he is elected or even if he is not---Are the monies that he spent on salaries, campaign travels,etc. able to be taken (if he loses) as a deduction???? Also are any monies that he received as contributions have to be filed as personal income??? If there is any money left over , whether he loses or not will he have to include that on his PERSONAL income tax return, due to the fact he has claimed that he is using his own money???
I need to have an answer for this question for my own information. Thank you for your help. I do understand that you cannot give out personal information so if you can answer as the taxable procedure for all candidates. Thank you again!! My name is***** my e-mail is***@******.***, my address is 3138 Via Poinciana Apt.210, Lake Worth, FL 33467. I appreciate your help!
Submitted: 1 year ago.Category: Tax
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Answered in 5 minutes by:
3/28/2016
Tax Professional: Jonathan Tierney, Certified Public Accountant (CPA) replied 1 year ago
Jonathan Tierney
Jonathan Tierney, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 322
Experience: Tax Accountant at Praxair, Inc.
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Hi, my name is ***** ***** I can help. Donald Trump is not taking any public money to fund his presidential campaign, but he is accepting donation to help fund it. Just check is website: https://www.donaldjtrump.com/ and see the blue "Donate" option in the upper right corner. Candidate that accept public money have overall limits on how much they can spend, but by not accepting federal money, their is no limit to how much he is allowed to spend on his campaign.

Political contributions are not deductible by individuals and businesses and Mr. Trump is not allowed to deduct his own spending on his political campaign.

I hope this answers your question. Please let me know if I can clarify anything or answer any additional questions.

Thanks, Jonathan

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Jonathan Tierney
Jonathan Tierney, Certified Public Accountant (CPA)
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