737 type rating tax deductible?

[MaxMmo]

Is it possible to deduct the cost and expenses associated with a 737 type rating on your taxes? Can you do it if you don't get the job (SWA)?

 

[Hung Start]

Not an accountant, but my knowledge on this (limited that it may be),is that it is only deductable if it helps you improve at your present job, not to get a job.

IRS Pub. 970, chapter 12

Business deduction for work related education.

Good luck

Hung

 

[klr1395]

I took it because being a pilot is my job and that rating of course would help me get better at it. Take the deduction.. klr

 

[pony251]

My accountant wrote it off as a legitimate deduction. IRS hasn't come knocking on my door in the past 3 years, so I would say they were OK with it. I also turned down the interview, so working there was not a problem.

 

[unwashed]

Yes it is, I use pilot tax and they said it was and I took it.

 

[AvroJockey]

Absolutely!

It also qualifies for one of the educational credits! If you're ever audited, all you have to prove is that the education expense had potential to increase your taxable income, by furtherance of your career.