A newsletter fund described in Code section 527(g) may be exempt as a political organization. To be exempt, a newsletter fund must be: Established and maintained by an individual who holds, has been elected to, or is a candidate for nomination or election to a federal, state, or local elective public office For use solely by the individual to prepare and circulate the individual's newsletter. The exempt function of a newsletter fund is only to prepare and circulate the newsletter. In calculating the political organization taxable income of a newsletter fund, the $100 specific deduction is not allowed.
