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I took a real estate course for my real estate investing…

I took a real estate...
I took a real estate course for my real estate investing business and was told the course was fully tax deductible towards the business. Is this true? Are there any prerequisites to being able to deduct the course against my LLC which I’ll use as a flow-thru entity?
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Answered in 18 minutes by:
3/7/2018
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,110
Experience: Taxes, Immigration, Labor Relations
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We need to be very careful with such promises especially when large amounts are invested.

Specific requirements are listed in IRS publication 970

https://www.irs.gov/pub/irs-pdf/p970.pdf

page 58 - Business Deduction for Work-Related Education

.

You can deduct the costs of qualifying work-related edu-cation as business expenses. This is education that meets at least one of the following two tests.
--The education is required by your employer or the law to keep your present salary, status, or job. The required education must serve a bona fide business purpose of your employer.
--The education maintains or improves skills needed in your present work.
However, even if the education meets one or both of the above tests, it isn't qualifying work-related education if it:
--Is needed to meet the minimum educational requirements of your present trade or business, or
--Is part of a program of study that will qualify you for a new trade or business.

.

Let me know if you need any help with determination.

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Customer reply replied 4 months ago
Greatly appreciated. I will keep that in mind.

I appreciate if you take a moment to rate the answer.

Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all Social Security / Tax related issues
Lev
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Satisfied Customers: 33,110
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