Real estate school and exam

[Possi]

My client took the real estate class and exam to start the business, and is active and earning money.
Can I take the expense of the class and exam on the Sch C?
I've been looking for an answer to no avail.
thanks~

[Chief]

School and exam expenses

Sounds like this person went to school to get training for a new occupation. Nondeductible; only expenses for maintaining a trade.Look at directions for 2106.

[Possi]

I was reaching

I know I was reaching. Thanks for keeping it real..............

[skhyatt]

There are expenses that may be deductible after you are in business, but not before. I assume you must pass the RE school and pass the exam before becoming licensed, so you couldn't really be in business yet? Just something to think about regarding this or any other occupation when deciding where to report.

[Possi]

True

With that mindset, I'll not make the mistake. Thanks~

[Jesse]

Just a thought......

If school was thru an eligible institution you may be able to take Education Tax Credits or the tuition deduction.

[Possi]

I thought of that...

but it is the Alpha College of Real Estate, and I don't think they qualify. I could call them Monday.