Flight training on Income tax returns?

[skydraulic]

May one use flight training on your income tax return? If so, does it go in the education credit (lifetime learning) or under the tuition and fees deduction? Ready to mail this sucker off and almost forgot about flight training!

...more info: the training I received was for my flight instructor ticket.

 

[captainv]

i'd file an extension and find a CPA who's familiar with aviation.

 

[vclean]

Perform a search on this board for this topic. Generally if the education (aviation or not) is for a new career, it is not deductable. If the education is to maintain proficiency for your current job, then it may be deductable. However, it falls under the 2% AGI rule. This rule states only expenses (education, medical etc) above 2% of your AGI (adjusted gross income) are deductable.

Visit the IRS site for more depressing info.

 

[Tinpusher]

I highly recommend you visit www.pilotax.com. If you are qualified try to start a contract pilot business. You'll be expected to possess the ratings generally required for such as venture going in but additional type ratings for example would be deductible as a business expense under 'professional fees'. Thats my cpa's humble opinion. Good Luck

 

[bobbysamd]

Flight instruction as tax deduction

All training you received to obtain employment is not tax-deductable. I.e., training for Commercial-Instrument-Single-Multi and CFI-A-I-ME. Some would argue that CFI-I and MEI earned after you are employed could be deducted; I disagree. That training still meets enough tests to be regarded as initial training.

Training for which you paid after you gained employment, e.g., type ratings, is fully deductable as a business expense if you itemize.

I do not believe that the lifetime education credit was intended as a tax deduction for training to begin or further a career.

Hope that helps a little more.

 

[TopGun-MAV]

when you pft is that tax deductible? some of my tab friends said yes to this. it's a little late for me now but i might be able to file an extension.

 

[bobbysamd]

P-F-T Flamebait

when you pft is that tax deductible? some of my tab friends said yes to this. it's a little late for me now but i might be able to file an extension.

Gosh, I certainly hope not. In fact, sonny, I don't think so. You are going to TAB to acquire credentials, including that vaunted B1900 type rating, to be hired not only as a TAB Express "First Officer," but for a job, for which, of course, you are paying. That would be considered as initial training to obtain employment, or, in your case, "employment," and, as such, is not tax-deductable.

After TAB hires you and you are seeking your next P-F-T job, you can deduct that P-F-T because you will already have been "employed."

 

[Timebuilder]

If you have previously worked as a prostitute, then yes. A PFT job would likly be seen as an extension of your earlier career, and this training would qualify you to be defiled in a new way, but under the same terms as the previous arrangement.

 

[willis]

file amendments

don't forget you can always file an amendment to your taxes after you file. Plus the government owes interest on that money