Head's Up to My Whaling Captain Homies, Yo

Don't forget to take advantage of the tax-deductions this year!*

Expenses of Whaling Captains (Pub. 526)

You may be able to deduct as a charitable contribution the reasonable and necessary whaling expenses paid during the year in carrying out sanctioned whaling activities. The deduction is limited to $10,000 a year. To claim the deduction, you must be recognized by the Alaska Eskimo Whaling Commission as a whaling captain charged with the responsibility of maintaining and carrying out sanctioned whaling activities.

Sanctioned whaling activities are subsistence bowhead whale hunting activities conducted under the management plan of the Alaska Eskimo Whaling Commission.

Whaling expenses include expenses for:

Acquiring and maintaining whaling boats, weapons, and gear used in sanctioned whaling activities, and

Storing and distributing the catch from these activities.

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*One more thing to love about the good ol' US of A: The fact that I can only claim up to $4,000 in tuition expenses, and yet whaling captains can claim up to $10,000.

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