Damnation and I am sure the Devil's right on that one. But in addition,
with regard to the cost of a type rating and expenses incurred.
It is surely not the tax liablity which reduces by the cost of the rating. It is the total amount of taxable income which might be affected in any one tax year, reduced by the amount agreed with the IRS for the rating?
Furthermore, if capital has been used to pay for the rating, then it cannot convert to income for the purpose of reducing income tax liability?
