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SOURCE: DE-Taxes, LLC
Compensation for active service while in a combat zone isn’t included in gross income. The exclusion for a commissioned officer – other than a commissioned warrant officer – is limited.
Wilmington, DE (PRWEB) November 20, 2012
If you receive tax-free combat pay, you can include it as earned income:
Even if you received the income as a reimbursement or an allowance, you don’t include this income in your gross income:
For the military base realignment and closure benefit, the excludable amount can´t be more than this equation:
95% of the fair market value of the property for which the payments were made (before public announcement of intent to close all or part of the military base or installation) – Property´s fair market value (at the time of sale) = Maximum military base realignment and closure benefit exclusion
The Department of Defense determines:
In-kind Military Benefits
You can’t exclude the value of personal use of a government-provided vehicle.
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