Veteran Services: Finance Questions

Finances

You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.

Questions & Answers

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Financial Questions & Answers

Question:

Can you claim your dues paid each year on your income tax form? Is it claimed as a donation? – Donald

Answer:

If you’re asking about The American Legion dues, this organization is qualified to receive tax-deductible contributions. However, IRS Publication 526 notes that only membership fees above the value of any benefits received from the organization can be deducted as a charitable contribution. In exchange for your dues, you receive a magazine. I’m not sure of the dollar value associated with the magazine, but it seems that you could deduct any amount over and above its deemed value. Now, you can certainly deduct any pure contributions you make to the Legion and their various programs. We’d definitely recommend getting clarification from your tax preparer to ensure no missteps.