FBM aka Boomer Deduction

First let me start by saying this tax present has nothing to do with baby boomers. If you're not a Military Submariner or the spouse of one you've probably never heard of the FBM Deduction better known as the Boomer Deduction.

To plainly put it, under Revenue Ruling 67-438 this is a group of unreimbursed employee expenses available for those serving on two crew submarines. Some of the expenses that the submariners are eligible to claim under Section 162(a)(2) of the Internal Revenue code are mileage, meals, laundry and lodging. To be eligible to include these items as expenses the submariner's "Tax Home", which in this case is the submarine must be unavailable (i.e. the other crew is out to sea) at some point during the year forcing them to leave their "tax home".

Trying to calculate the deduction can be a pain, but when you see your refund amount increase it is definitely worth it.

A few things to note when preparing your taxes and including the Boomer Deduction:

-This applies to enlisted and officers alike.

-Be sure to include "2 Crew FBM Submariner" as your occupation on the return and on IRS form 2106.

-Your command should have a letter available detailing Off Crew periods for the tax year that you can use to calculate the deductions.

-Be sure to exclude any personal time taken off during the Off-Crew periods from your calculations.

-Mileage logs are always encouraged (its best to have as much documentation as possible when it comes to taxes) - in addition to accounting for your mileage to work you need to account for commuter miles as well and total miles driven during the year.

-A single crew SSBN does not qualify for the Boomer Deduction.