Thread: Luggage?
View Single Post
Old 04-17-2016 | 08:17 AM
  #15  
HighFlight
Gets Weekends Off
 
Joined: Feb 2016
Posts: 2,559
Likes: 0
Default

And don't forget that the 2% for miscellaneous deductions only comes into play if you are already over the standard deduction, which is hard to do unless one owns a home.

Originally Posted by Turbosina
Luggage expenses (unreimbursed employee expenses) are only deductible if the total of your unreimbursed employee expenses exceeds 2% of your adjusted gross income. So for example if your AGI is $100K, you'd have to spend $2K in unreimbursed employee expenses before you could deduct a penny, and only the amount in excess of $2K would be deductible.

If you're a contractor getting paid via a 1099, then this doesn't apply; it's deductible as an ordinary business expense and there is no 2% qualification.. But I don't know of any US 121 carrier that employs contract pilots.
Reply