I have to take an exam for my professional license (medical). The cost is approx $600 and the the actual license fees are approx $1000. Can i deduct these as business expenses? what about if I buy a medical book? can that be a deduction if I itemize? Thank you Generally, costs to qualify for a new profession are not deductible, so the exam fees are not. The license fees would be deductible because you would then be in the profession. The books are deductible costs as necessary for your profession.
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