turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

htown27
Returning Member

I got my real estate license in 2016. Although I sold no property, can I deduct continuing education cost and fees associated with being a realtor?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MargaretL
Expert Alumni

I got my real estate license in 2016. Although I sold no property, can I deduct continuing education cost and fees associated with being a realtor?

Yes, you can deduct continuing education costs, but you cannot deduct the cost of becoming a real estate agent (so your license and initial "school").  To be deductible, your expenses must be for education that either maintains or improves your job skills.  Expenses to learn a new trade or job aren't deductible.

As to your fees associated with being a realtor... if your "business" is operational, you can deduct any business expenses that you paid, regardless if you have received any income for that year.  Be careful, though... if you have loss for your self-employment for 3 consecutive years, the IRS may think it is your hobby and not business and may disallow your losses. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies