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Author: WaleranBigod Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Licensing exams as deductios Date: 1/17/2002 10:53 AM
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Hello,
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

Waleran
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Author: Charlie48K Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 57295 of 121061
Subject: Re: Licensing exams as deductios Date: 1/17/2002 11:44 AM
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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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