It is my understanding after yesterday discussing this issue with a CPA experienced in this matter that the deduction of an allowance for "engine reserve" would...
Lynn - I had already downloaded and searched IRS Publication 526. Lots of useful information there, but nothing specific about use of private aircraft on charit...
According to an article by the accounting firm Lindsey & Brownell, only the variable costs associated with the charitable flight are deductible. An allocation o...
In conclusion, if I'm understanding you correctly, Ln 23 of the 1040X indicates the additional amount (if any) that should be applied (credited) to my account a...
