Tuition deduction


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If someone starts a bookkeeping business that they intend to run from home until it gets off the ground and they decide to go back to school and get a Master's degree is it ok to put this on the company's books as a necessary expense and then have a net operating loss for at least the first year?
 
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kirby

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I really don't think IRS will spend more than two seconds thinking about this before they rain on your parade. Anyway. remember that "education is not qualifying education if it will qualify you for a new trade or business." Sorry.
 
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