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Professional memberships. I have exams I must pass to receive my architectural license. Can I deduct the cost of the exams as a out of pocket work expense?
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Professional memberships. I have exams I must pass to receive my architectural license. Can I deduct the cost of the exams as a out of pocket work expense?
You could have reported the expenses if you were already in that line of work. You cannot deduct the expenses if they are for a NEW career.
Job (W-2) expenses were reported on Schedule A and only if they were over 2% of your AGI, however the Tax Cuts and Jobs Act has eliminated that deduction for tax year 2018 and beyond.
Please click the link below for more information.
[Edited 03-10-20 | 06:39PM]
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Professional memberships. I have exams I must pass to receive my architectural license. Can I deduct the cost of the exams as a out of pocket work expense?
You could have reported the expenses if you were already in that line of work. You cannot deduct the expenses if they are for a NEW career.
Job (W-2) expenses were reported on Schedule A and only if they were over 2% of your AGI, however the Tax Cuts and Jobs Act has eliminated that deduction for tax year 2018 and beyond.
Please click the link below for more information.
[Edited 03-10-20 | 06:39PM]
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Professional memberships. I have exams I must pass to receive my architectural license. Can I deduct the cost of the exams as a out of pocket work expense?
You can deduct licensing costs to maintain your credentials in the field you currently work, but not to qualify to work in a new career.
Also, for W-2 workers, the deduction for all work-related expenses is eliminated starting in 2018. If you are a W-2 employee, you should discuss a reimbursement arrangement with your employer since the expense will no longer be deductible.
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