Page 168 - Other Income for Individuals

Campaign contributions

 These contributions aren’t income to a
candidate unless they’re diverted to his or
her personal use.
 To be nontaxable, the contributions must be
spent for campaign purposes or kept in a
fund for use in future campaigns. However,
interest earned on bank deposits, dividends

received on contributed securities, and net
gains realized on sales of contributed
securities are taxable and must be reported
on Form 1120-POL, U.S. Income Tax Return
for Certain Political Organizations.
 Excess campaign funds transferred to an
office account must be included in the
officeholder's income on Schedule 1 (Form

1040), line 8, in the year transferred.

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