Question on Domestic Production Activities Deduction?
If I were to get into a contract where I lend someone the money to product a film. Once he completes the film, I will forgive the loan and pay him $65,000 for the film. Then i sell the film to a distribution company for a profit. WIll i qualify for the Domestic Production Activities Deduction???
Answers & Comments
Verified answer
Form 8903, Domestic Production Activities Deduction
Use Form 8903 to figure your domestic production activities deduction (DPAD).
www.irs.gov/uac/Form-8903,-Domestic-Production-Activities-Deduction
Engaged directly in any film produced?
Hope that you find the above enclosed information useful. 04/30/2013
No.