• NC Software is having a Black Friday Sale Event thru December 4th on Logbook Pro, APDL - Airline Pilot Logbook, Cirrus Elite Binders, and more. Use coupon code BF2020 at checkout to redeem 15% off your purchase. Click here to shop now.
  • NC Software is proud to announce the release of APDL - Airline Pilot Logbook version 10.0. Click here to view APDL on the Apple App store and install now.

easy per diem question

cougarblue

Well-known member
Joined
Sep 9, 2005
Posts
58
Total Time
3000
ok Ive got a simple per diem question that i need some help with!

If I have 40 4-day trips, I take the standard deduction of $52 (i think thats what it is) and was paid 4000 ntax perdiem. what is the actual deduction?

would you also include how you came up with your answer. Thanks
 

DTW320

Well-known member
Joined
Dec 12, 2005
Posts
854
Total Time
15000+
I'll take a crack at it, although you will find much disagreement...mainly related to the idea of pro-rating the deduction for the first and last day. Do a search and you can find the threads about that argument. I won't go into detail here but I feel that the IRS is very clear that you can take the entire day's value. So anyway, 40 4-day trips would be $52 X 4= $208 X 40 = $8320 allowable deduction. That figure would go on your Form 2106 under column B, meals and entertainment. Then, also on Form 2106, you would subtract your ntax perdiem of $4000 leaving a deduction of $4320. Then you take 80% of that (for 2008 taxes). That amount from form 2106 gets placed on your schedule A, itemized deductions, on line 20. The amount(plus any other miscellaneous deductions) that exceeds 2% of your AGI is deductible on your schedule A.
 
Top