Thank you for your answer. What I am specificly referring to is a one-time seat license paid to a sports franchise as a membership, in this case an NBA team in California, for the "rights" to purchase the same seats year after year. This one-time payment, in my case $30K, is in addition to the roughly $16K annual payment for the season tickets themselves. Keep in mind this $30K membership also allows a season ticket holder to pre-purchase tickets to other events at the same venue, such as concerts and other events that can then be sold, sometimes for a profit. Also, there is a stipulation that in 30 years, the $30K stadium "membership" fee will be returned.
Is this $30K something that can be deducted against profits?
Thank you in advance
