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IRS Publication 529

What is IRS Publication 529?

IRS Publication 529 contains the rules and regulations governing miscellaneous tax deductions, many of which apply to flight crew taxes. IRS Publication 529 is important because many of the unreimbursed employee business expenses that can or cannot be deducted are listed within it.

How does IRS Publication 529 apply to flight crew taxes?

While the tax deduction list in IRS Publication 529 is somewhat general, it still contains important guidelines that help pilots and flight attendants determine whether a given expense is tax deductible. For example, as of this writing, wristwatches are included in IRS Publication 529 as an expense that CANNOT be deducted. Wristwatches were always a borderline personal expense, but IRS Publication 529 specifically made wristwatches unallowable deductions.

The wristwatch tax deduction example is a perfect example of how a pilot or flight attendant should go about determining if an employee business expense is tax deductible.

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