I spent nearly $2,500 on expenses related to enrolling in the Chartered Financial Analyst program in 2016. Can I claim these expenses as tuition/educational expenses?

[RichardG]

Were you already working as a financial analyst when you enrolled in the program?

[austinlee29]

Yes.

[RichardG]

You can deduct the costs of qualifying work-related education as business expenses. This is education that meets at least one of the following two tests.

• The education is required by your employer or the law to keep your present salary, status, or job. The required education must serve a bona fide business purpose of your employer.
• The education maintains or improves skills needed in your present work.

However, even if the education meets one or both of the above tests, it isn't qualifying work-related education if it:

• Is needed to meet the minimum educational requirements of your present trade or business, or
• Is part of a program of study that will qualify you for a new trade or business.

You can deduct the costs of qualifying work-related education as a business expense even if the education could lead to a degree.

[austinlee29]

Thanks Richard. Do I have to itemize deductions in order to deduct these costs?

[RichardG]

Yes, and job-related expenses are subject to the 2% adjusted gross income rule.  That means only expenses that exceed 2% of your AGI are deductible.