I purchased training classes on how to invest in stock market, bonds, futures and options trading. Can I write off this training against capital gains? If so how?
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You certainly can't write that off "against capital gains" in the sense of
Net Capital Gains - training classes cost = New net capital gains.
You might be able to write off the cost of the training classes under the rubric of "Investment counsel and advice" as miscellaneous itemized deductions on Schedule A, but that would be limited only to the costs that exceed 2% of your AGI.
Tom Young
You certainly can't write that off "against capital gains" in the sense of
Net Capital Gains - training classes cost = New net capital gains.
You might be able to write off the cost of the training classes under the rubric of "Investment counsel and advice" as miscellaneous itemized deductions on Schedule A, but that would be limited only to the costs that exceed 2% of your AGI.
Tom Young
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