A No. Essentially, frequent flier miles are merely an offer of a discount on future airline flights. Since you didn’t pay anything for this privilege and you have no tax “basis” in the mileage, you don’t realize any tax-deductible loss if the discount loses value or it expires.
Tip: On the other hand, you don’t have to recognize any taxable income when you’re granted or offered frequent flier miles, so it evens out.
- Small Business Tax Deduction Strategies No matches