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Discussion Archives:Training expenses for Schedule C

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Discussion Forum Index --> Advanced Tax Questions --> Training expenses for Schedule C


Discussion Forum Index --> Tax Questions --> Training expenses for Schedule C

Www.cpa1.biz (talk|edits) said:

27 April 2011
Almanacers,

I have a client who had training expenses for his schedule C real estate profession business that he started in 2010 and has another partnership he materially participates in.

The education is not required to meet minimum requirements to do the job and will not lead him to a new trade or business from the real estate business.

I wanted to ask if the training expenses were deductible because he started the Schedule C business in 2010.

Please let me know what you have seen.

Thank you,

Brian

Mr cheese (talk|edits) said:

27 April 2011
It would help to be more specific about what these "training expenses" are exactly. However, if the training is related to his profession (realestate) and he is a business owner or independent contractor, then it could be considerred research.

Www.cpa1.biz (talk|edits) said:

27 April 2011
Mr. Cheese,

I am getting more information as I speak. That is a good point and may be beneficial for an alternative deduction.

Trillium (talk|edits) said:

27 April 2011
Some good reading material while you're waiting for the additional info from your client: "real estate" seminar Woody.
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