Sponsorship

[scruzlocal0327]

I pay expenses for my sons racing. How do I deduct these expansive costs?

[Bsch4477]

You are giving him a gift. There is no deduction. 

[SharonD007]

No, you can't deduct or expense the money that you paid for your son's racing on your personal tax return. Gifts aren't tax deductible. If your gift was more than $18,000 ($36,000 for a married couple),  you will have to complete Form 709, which TurboTax doesn't support.

Refer to the TurboTax articles Where do I report a cash gift? and Tax Guidelines About Gifting.

If you are sponsoring your son through your business, please provide more information and clarify so we may assist you.