I did some Boomer Deduction scenarios based on one particular submarine's schedule for 2011 to demonstrate how useful the Boomer deduction is. They do not take into account the fact that any other itemized deductions (such as charity or car taxes) will now change the return. It also doesn't take into account State benefits. The numbers are from a Kings Bay boat. The worksheet I made is HERE.
A Single sailor making around $30000 with rent of $750 and utilities of $250 with no roomates and who lives 12 miles from base should get a boomer deduction of around $13201 which translates into a $1103 difference in taxes.
A Single sailor making around $30000 with rent of $1000 and utilities of $300 with one roomate and who lives 10 miles from base should get a boomer deduction of around $11029 which translates into a $780 difference in taxes.
A Single sailor making around $20000 with rent of $1000 and utilities of $250 with two roomates and who lives 7 miles from base should get a boomer deduction of around $8878 which translates into a $421 difference in taxes.
A Single sailor making around $40000 with rent of $1100 and utilities of $300 with no roomates and who lives 24 miles from base in Florida should get a boomer deduction of around $18968 which translates into a $1988 difference in taxes.
Married taxpayers and homeowners can vary greatly based on kids and the higher standard deduction, but they generally still benefit.
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