Belt Auction

How/where to deduct real estate training fees on taxes?

I plan on getting a real estate license for the education and qualification when managing my private real estate investment career. Where/how do I deduct these costs on my taxes? Eventually I'll set up a real estate company where I could deduct them, but that won't be set up for a while. Thanks.

Public Comments

1. Take the schooling as a Lifetime Learning Credit.
2. If the education qualifies, you may be able to use an education credit. But if you are taking these classes from a non-accredited source (such as a local RE agency), you have NO deduction at all. Helen, EA in PA
3. You probably don't. Most such courses wouldn't meet the requirements for a Lifetime Learning credit. And it isn't a business expense since you aren't already in the business.
4. The training fees to learn a new trade or profession are not deductible. When you have a real estate business and you need further training to improve your skills, then the training expenses are deductible as business expenses.