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Am I just mean and crabby now?


NECPA in NEBRASKA
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I think that I am right, but I'm getting push back, because everyone else says that I'm wrong. Real Estate School and the fees to get licensed are not deductible on a Sch C if this is the first time that you have ever tried are they? There has not been any income, but turned in over $4k of expenses, plus mileage, and office in home. I am tired and just want to say WTF! I had no idea that all of this was in this return from a long time client. I don't even know if anything but the licenses can/or should be amortized. I don't know why buy all of this crap if you have made no money. Rant over! 

Please just be gentle if I am wrong. I am pretty sick of this year. Thanks!

 

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Neither mean or crabby, it looks to me that you are avoiding penalties for yourself.  Learned a long time ago you can't save clients from penalties when they don't follow our advice.

The link is from a Forbes article that appears to be on point to your situation.

Topic Number 513 is from the IRS website.

 

https://www.forbes.com/sites/anthonynitti/2016/12/21/tax-geek-wednesday-deductibility-of-professional-education-expenses/#26ff2b974fc4

 

Topic Number 513 - Work-Related Education Expenses

You may be able to deduct work-related education expenses paid during the year. To be deductible, your expenses must be for education that (1) maintains or improves your job skills or (2) a law requires to keep your status or occupation. However, even if the education meets either of these tests, the education can't be part of a program that will qualify you for a new trade or business or that you need to meet the minimal educational requirements of your trade or business.

Although the education must relate to your present work, education expenses incurred during temporary absence from your job may also be deductible. After your temporary absence, you must return to the same kind of work. Usually, absence from work for one year or less is considered temporary.

Expenses that you can deduct include:

  • Tuition, books, supplies, lab fees, and similar items
  • Certain transportation and travel costs, and
  • Other educational expenses, such as the cost of research and typing

 

To determine if your work-related expenses are deductible, see Are My Work-Related Education Expenses Deductible?

Self-employed individuals include education expenses on Form 1040, Schedule C.pdf, Profit or Loss From Business (Sole Proprietorship), Form 1040, Schedule C-EZ.pdf, Net Profit From Business (Sole Proprietorship) or Form 1040, Schedule F.pdf, Profit or Loss From Farming.

For more information on work-related education expenses, education tax credits, or information for specific types of employees, such as performing artists, refer to Publication 970, Tax Benefits for Education. Also, for additional information about education benefits, review Tax Benefits for Education: Information Center and Am I Eligible to Claim an Education Credit?

 

 

 

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4 minutes ago, bbstacker said:

Neither mean or crabby, it looks to me that you are avoiding penalties for yourself.  Learned a long time ago you can't save clients from penalties when they don't follow our advice.

The link is from a Forbes article that appears to be on point to your situation.

Topic Number 513 is from the IRS website.

 

https://www.forbes.com/sites/anthonynitti/2016/12/21/tax-geek-wednesday-deductibility-of-professional-education-expenses/#26ff2b974fc4

 

Topic Number 513 - Work-Related Education Expenses

You may be able to deduct work-related education expenses paid during the year. To be deductible, your expenses must be for education that (1) maintains or improves your job skills or (2) a law requires to keep your status or occupation. However, even if the education meets either of these tests, the education can't be part of a program that will qualify you for a new trade or business or that you need to meet the minimal educational requirements of your trade or business.

Although the education must relate to your present work, education expenses incurred during temporary absence from your job may also be deductible. After your temporary absence, you must return to the same kind of work. Usually, absence from work for one year or less is considered temporary.

Expenses that you can deduct include:

  • Tuition, books, supplies, lab fees, and similar items
  • Certain transportation and travel costs, and
  • Other educational expenses, such as the cost of research and typing

 

To determine if your work-related expenses are deductible, see Are My Work-Related Education Expenses Deductible?

Self-employed individuals include education expenses on Form 1040, Schedule C.pdf, Profit or Loss From Business (Sole Proprietorship), Form 1040, Schedule C-EZ.pdf, Net Profit From Business (Sole Proprietorship) or Form 1040, Schedule F.pdf, Profit or Loss From Farming.

For more information on work-related education expenses, education tax credits, or information for specific types of employees, such as performing artists, refer to Publication 970, Tax Benefits for Education. Also, for additional information about education benefits, review Tax Benefits for Education: Information Center and Am I Eligible to Claim an Education Credit?

 

 

 

Thank you so much! I was sure that I was not crazy, because this isn't anything new. 

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