Tax deduction for aircraft rentals?

[mudkow60]

Quick question-

I heard that I can deduct a part of my civil aircraft flying rental costs under the guise of flight related training or education or something like that. Anyone know if this is true, if so how much can be deducted, and how can I do this?

Thanks.

 

[flywithastick]

In Texas, state sales tax is not applicable to "training" flights (working on that ATP, *right*?!). But as far as federal goes, I believe you may be able to deduct expenses required to "maintain your profession", or something to that effect. Can't deduct expenses to train for another career though. Im not a CPA, but I have looked into the issues a few times.

 

[rettofly]

Quick question-

I heard that I can deduct a part of my civil aircraft flying rental costs under the guise of flight related training or education or something like that. Anyone know if this is true, if so how much can be deducted, and how can I do this?

Thanks.

I believe it's reasonable to deduct any expense incurred to maintain regulatory job qualifications as an unreimbursed employee business expense, subject to the 2% exclusion for "Miscellaneous Expenses". It gets a little iffy if you're between jobs, but should be acceptable as long as you can also show expenses related to job hunting. Just my opinion.

If you file a Schedule C to report self-employment income, this expense is fully deductible as an offset to earnings.

 

[mudkow60]

Thanks for the tips. I still currently fly with the military, and was wondering if I could deduct my private pilot hops as a business related, skills type expense.