Tax Deduction Questions
03-28-2006, 03:51 PM
#1
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Tax Deduction Questions
Surely I am not the only one to want to do this. I am on my way to a carreer in aviaition, currently taking private pilot license lessons out of a local club with a private instructor and privatley owned plane. I want to deduct these expenses as educational because I am going to be a airline pilot in the future years right after I finish school. If anyone can point me in the right direction for adding these expenses to my tax forms PLEASE help. This is not a leisure expense because I AM going to be a pilot, I just don't understand how they can deny me at H&R Block, but maybe they do know what they are talking about for once. 
03-28-2006, 04:35 PM
#3
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,190
Not sure about the PVT, but post-private training towards professional employment can actually give you a large tax CREDIT, not just a deduction.
I got this, but it may have been because a career change was involved. The credit was for any sort of career re-training, not just flying. I could have got the same thing for welding or truck driving school. If you're young and just starting out, this may not apply for you. I'd check with a real tax accountant though.
I got this, but it may have been because a career change was involved. The credit was for any sort of career re-training, not just flying. I could have got the same thing for welding or truck driving school. If you're young and just starting out, this may not apply for you. I'd check with a real tax accountant though.
Thats great.
03-28-2006, 05:53 PM
#5
Gets Weekends Off
Joined APC: Jun 2005
Position: Retired
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You can't write off training as an education expense. As stated, it's considered a leisure activity until you're actually working as a pilot. You can, however, write off costs such as charts, and more advanced instructor ratings once you become a CFI because they are business expenses. I've discussed this with a CPA and this is the conclusion they came to.
Besides, unless you're doing something where you're making tons of money you'll have a better return just taking the standard deduction for yourself.
Besides, unless you're doing something where you're making tons of money you'll have a better return just taking the standard deduction for yourself.
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