Random Tax Question.......

[TallFlyer]

So as I just finished my tax return on TurboTax and am about to mail it in I had a question run through my mind......

From a tax perspective, is there any value (right off, etc) to this stack of receipts that I have from flight training? Assume all paid out of pocket and towards the goal of flying professionally.

Thanks for the help....

CJ

[aloft]

The short answer is "nope", the longer answer is "probably not", but there are exceptions.

If you learn to fly in furtherance of your present occupation, then your training expenses can be deducted. Examples are sales people flying private aircraft to further their sales territory or service existing clients more efficiently, or air traffic controllers gaining insight into the "other side of the mike". Such training cannot prepare you for a new occupation. The same holds true even once you have your commercial ticket and are going for your CFI; even though you can fly for compensation, "flight instructor" is a distinct occupation from "pilot" in the eyes of the IRS. If you're working as a CFI and add your CFII and/or MEI, those expenses can be deducted because they're furthering your present occupation as a flight instructor.