Can I fly my plane if it’s on a leaseback?

Most owners buy the plane so they can fly it.  If your school is geographically friendly, you’ll want to make arrangements to fly your plane with the school.  Usually, you’ll rent your own plane without the marketing/management fee.  This allows you to deduct 100% of the plane as business since the school is renting the plane 100% of the time.

One thing to remember. . . the more you fly, the less your plane is available to rent.

 

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