type-rating tax deductions

[limodriver1]

Does anyone know or have personal experience about taking a tax deduction after paying some of the training expenses... Hotels, food, part of the type-rating costs, or full type-rating cost?

Thanks

 

[CA1900]

Does anyone know or have personal experience about taking a tax deduction after paying some of the training expenses... Hotels, food, part of the type-rating costs, or full type-rating cost?

As long as you're already a working pilot, you can take a deduction for a work-related educational expense. It must be education that "maintains or improves skills needed in your present work." If you're flying for a living, it does. If you're working at Home Depot, it doesn't qualify.


Read IRS Publication 970 for more information. Page 59 discusses the work-related education. Page 62 discusses what other travel expenses can be deducted.

Good luck!

 

[falcon20pilot]

Tax advice from FI? You are brave.

CA's got it right. I was going to post a link to the AOPA article explaining this in detail, but since they re-designed their site you can't find anything anymore. If you are a member you might want to see if you can find it there.

Since you are already commercial, multi-engine; and that is all that is "needed to meet the minimum requirements of your present trade or business", the type rating qualifies as an expense. It's also like the CFI - your initial CFI would not be a deduction because now you are qualified in a new trade as a "flight instructor", but your CFII and MEI "improves skills neeeded in your present work" so you could deduct those expenses.