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Author Topic: [-] Aircraft conversion not appearing as an expense.  (Read 178 times)

Online kclarke

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[-] Aircraft conversion not appearing as an expense.
« on: September 05, 2018, 12:43:21 AM »
Not sure if anyone else has noticed buy I have recently done 7 x 707-320 conversions to freighters but no corresponding expense on the income & expenses statement.

Would assume it would appear under aircraft maintenance?

My cash went down but not noted as an expense.

Empire GW4

Cheers

Kclarke

« Last Edit: September 05, 2018, 07:16:04 AM by Sami »

Online JumboShrimp

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Re: Aircraft conversion not appearing as an expense.
« Reply #1 on: September 05, 2018, 01:02:42 AM »
I am guessing that the cost of conversion increases the book value of the aircraft (increase in assets) to offset the cash outlay.

Online kclarke

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Re: Aircraft conversion not appearing as an expense.
« Reply #2 on: September 05, 2018, 01:08:28 AM »
Possibly, previously it had shown up as an expense on my income statement under aircraft maintenance and then can be used to lower the taxable income for the week.

It could be showing up somewhere so will keep looking.

Offline schro

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Re: Aircraft conversion not appearing as an expense.
« Reply #3 on: September 05, 2018, 01:50:50 AM »
Should increase book value, which in turn increases depreciation.

Online JumboShrimp

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Re: Aircraft conversion not appearing as an expense.
« Reply #4 on: September 05, 2018, 02:44:35 AM »
Possibly, previously it had shown up as an expense on my income statement under aircraft maintenance and then can be used to lower the taxable income for the week.

It could be showing up somewhere so will keep looking.

I think D check work the same way - increase book value.

But it only works this way on owned aircraft.  Any maintenance on leased aircraft is directly deductible. the same week.

Online kclarke

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Re: Aircraft conversion not appearing as an expense.
« Reply #5 on: September 05, 2018, 03:10:03 AM »
That makes sense, I do own them.

Thanks for clarifying.

Cheers.

kclarke

 

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