737 Type and Tax Deductions

[Charlie Brown]

What is the story with deducting the costs associated with getting the type? I am getting some different opinions on this and thought I would ask the fountain of knowledge that is Flight Info. Any ideas/opinions would be appreciated.

CB

 

[IslandDriver]

I believe the whole thing is Tax Deductable. I am ready to do it and will ask my accountant.

When I did an ATP course I wrote the whole thing off......


It is needed for employment so I think it will work...I have the job at SWA pending the type so without it I could not advance my career....

I am interested in seeing what others think as well.

ID

 

[GuppyWN]

I wrote mine off.

Gup

 

[CA1900]

From IRS Publication 970, page 59:

You can deduct the costs of qualifying work-related educa-
tion as business expenses. This is education that meets at
least one of the following two tests.

• The education is required by your employer or the law to keep your present salary, status, or job. The required education must serve a bona fide business purpose of your employer.
• The education maintains or improves skills needed
  in your present work.

Are you working as a pilot? Then getting a type rating unquestionably meets the second of the criteria. If you're a pilot who's currently working at Home Depot, that changes things, as it says "your present work."

 

[Charlie Brown]

Thanks for the replies, folks. I really like the link to the IRS doc. That helps a bunch. CA1900, I owe you a barley pop.