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Stockholder Meetings Make Your Presence Felt

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Q. I’m a significant shareholder in several prominent companies. If I show up at a stockholders meeting, can I deduct my travel expenses? T.H., Detroit

A. As a general rule, you can’t deduct travel expenses to a shareholder meeting if you’re simply attending to schmooze or offer general opinions. But you may be entitled to a write-off if you’re proposing a resolution or making a sanctioned presentation. The key: Show that your presence has some practical application, such as contesting the appointment of new board members. Tip: If you qualify for this tax break, you must deduct your travel expenses as miscellaneous itemized deductions subject to a 2-percent- of-adjusted-gross-income floor.

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