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Old 08-08-2008 | 11:44 AM
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joepilot
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From: 747 Captain (Ret,)
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Originally Posted by jsfBoat
Thanks guys! I was trying to keep them for tax purposes any ways... I'll find a more permanent place to keep them then.
I'm a little confused on this. You said that you kept the receipts from your private training, but I don't believe that this would ever be tax deductible. To be deductible the education has to be to better your performance or job prospects in your current field of employment. If you were already employed as a professional pilot and were seeking extra ratings, then yes, this would be deductible. Interestingly, the IRS has ruled that a grade school teacher who decides to take flying lessons to become a CFI can deduct the lessons because that is staying in the same profession, teaching.
Joe
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