What is a Qualified Transportation Plan (QTP)? A Qualified Transportation Plan (QTP) is a reimbursement plan governed by IRS Section 132 that allows employees to contribute a certain amount of their gross income to a designated account or accounts before taxes are calculated. These accounts are for specified transportation and parking expenses for commuters. The two types of QTP accounts are: Transit & Vanpooling Accounts Parking Accounts What expenses are eligible for reimbursement from a QTP? For transit accounts, any out-of-pocket expenses for passes, tokens, farecards, vouchers, or similar items; vanpooling for transportation to and from the participant’s residence in a commuter highway vehicle (one that seats at least six plus the driver). For parking accounts, any out-of-pocket expenses for parking at or near the employer’s business premises. Also included are expenses for parking at or near a location from which the participant commutes via mass transit or commuter highway vehicle. What is the maximum amount a participant can contribute to a QTP account? For transit accounts, the maximum monthly contribution is $270 for 2020. For parking accounts, the maximum monthly contribution is $270 for 2020. These election amounts can change – please refer to IRS Publication 15b for current contribution amounts.