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Is an online course for my business for $2997 deductible. How do I deduct that?

 
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Is an online course for my business for $2997 deductible. How do I deduct that?

To be deductible, your expenses must be for education that (1) maintains or improves your job skills or (2) that your employer or a law requires to keep your salary, status, or job. 

https://www.irs.gov/taxtopics/tc500/tc513

If you are an employee, enter the education expenses in:

  • Federal Taxes
  • Deductions & Credits 
  • Employment Expenses
  • Job-Related Expenses

*This deduction is subject to the 2% rule on Schedule A.   

If you are self-employed, enter the education expenses 

  • Business tab
  • Profit or Loss from Business 
  • Business Expenses 
  • Other Common Business Expenses 
  • Other Miscellaneous Expenses 

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1 Reply

Is an online course for my business for $2997 deductible. How do I deduct that?

To be deductible, your expenses must be for education that (1) maintains or improves your job skills or (2) that your employer or a law requires to keep your salary, status, or job. 

https://www.irs.gov/taxtopics/tc500/tc513

If you are an employee, enter the education expenses in:

  • Federal Taxes
  • Deductions & Credits 
  • Employment Expenses
  • Job-Related Expenses

*This deduction is subject to the 2% rule on Schedule A.   

If you are self-employed, enter the education expenses 

  • Business tab
  • Profit or Loss from Business 
  • Business Expenses 
  • Other Common Business Expenses 
  • Other Miscellaneous Expenses 

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