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Political Organization Taxable Income - Modifications

In calculating political organization taxable income, the general rules for determining gross income generally apply, with the following modifications:

  • A specific deduction of $100 is allowed;
  • No net operating loss deduction under Code section 172 is allowed; and
  • No deduction under Part VIII of subchapter B [special deductions for corporations] is allowed.
Page Last Reviewed or Updated: 10-Jun-2016