LYNCHBURG, Va. – If you’re a pet owner hoping to recoup some of the money you spent during tax season, you’re most likely out of luck.
The IRS does not allow people to claim pets as dependents on their taxes, despite piling food and vet bills.
Dr. Gerald Prante, a University of Lynchburg economics professor, says there are certain circumstances when you can claim them, like a business expense for animal breeders.
“Business expense, potentially. In rare circumstances, you may be able to use it as a charitable deduction. Basically, for example, if you have a foster pet, then you can deduct certain expenses when you are fostering the pet for a local charity,” said Prante.
Another rare circumstance is for service animals if you deduct medical expenses.