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-   -   Deducting training contract (https://www.airlinepilotforums.com/money-talk/55955-deducting-training-contract.html)

detpilot 01-04-2011 06:31 PM

Deducting training contract
 
Someone posted a whole list of things you can deduct from your taxes as a flight crew member (thanks!).

Does anyone know if you can deduct training contract payments from a previous job? It seems like as much of a work expense as anything else... Thanks!

Continuingappch 08-07-2020 08:17 AM

Resurrecting your post since the talent shortage is over - for now - and contracts are cropping up again. Surprised nobody ever replied - anyone have an answer?

Continuingappch 08-07-2020 08:54 AM

Also, we know that essentially nothing is deductible for employees anymore - so the more specific question is would such payment be deductible for a contractor payed via form 1099?

AirborneUPSMovr 08-07-2020 06:45 PM

The new tax laws made essentially nothing deductible. Contract payments would not fall under any special category, and thus remain taxable.

tnkrdrvr 08-07-2020 07:23 PM


Originally Posted by Continuingappch (Post 3106358)
Also, we know that essentially nothing is deductible for employees anymore - so the more specific question is would such payment be deductible for a contractor payed via form 1099?

Id talk to an actual CPA. You’d be surprised what you can still write off. It just needs to add up to more than $20k.


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