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I am an actuary intern and I paid for the course and the actuary fm exam myself. Are these cost tax deductible?

To be actuary multiple exams need to be taken in different subjects. I took the financial mathematics exam. Without taking this exam I could not move from an intern to an actuary I position. I am still an intern because there are no actuary I positions available. 

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2 Replies

I am an actuary intern and I paid for the course and the actuary fm exam myself. Are these cost tax deductible?

Expenses to enter a new profession are not deductible. But see this:

https://www.irs.gov/credits-deductions/individuals/llc

PaulaM
Employee Tax Expert

I am an actuary intern and I paid for the course and the actuary fm exam myself. Are these cost tax deductible?

See this answer from TurboTaxGeoffreyG for an example of when prep courses and exams are, and are not deductible.

https://ttlc.intuit.com/replies/5644474

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