Schedule C deduction for training?


B

Brian Gordon

I'm getting into the insurance sales business. On one
level, anyone can do it -- no "training" is involved.
However, you must be licensed, and you must study for that.
Is a study course for the licensing exam deductable, even if
you are new to the business? Obviously, I'm hoping it is
:)
 
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A

Arthur L. Rubin

Brian said:
I'm getting into the insurance sales business. On one
level, anyone can do it -- no "training" is involved.
However, you must be licensed, and you must study for that.
Is a study course for the licensing exam deductable, even if
you are new to the business?
The general rule would be "no" -- the education qualifies
you for a new business.

Sorry.
 
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C

Christopher Green

I'm getting into the insurance sales business. On one
level, anyone can do it -- no "training" is involved.
However, you must be licensed, and you must study for that.
Is a study course for the licensing exam deductable, even if
you are new to the business? Obviously, I'm hoping it is
:)
Educational expenses for a trade you are not already engaged
in, or to meet the minimum requirements of a trade, are not
normally deductible.

If you can arrange to take the course through a college or
university, you may be able to take the tuition as an
adjustment to income.
 

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