I used the search function, but still can’t seem to find a clear answer. So… Since tax season is upon us, what parts (if any) of the CFA can we receive tax credit on. I did not get reimbursed by my employer, and I think this makes a difference some where along the way? I saw a couple of people saying that the membership can be written off, others that the whole $1000 can be written off. What’s the concensus here? Can I maybe even go as far as writing of all the expenses I incured as a result of taking the exam (i.e. travel, food, gas, etc)? I was just curious. Not trying to defraud Uncel Sam, just want what’s rightfully mine! Or whatever I can get from interesting interpretations of tax laws. =)
They would fit in continued education on the Schedule A (assuming this is a US based tax question). They should not be placed under the Hope or Lifelong Learning Credit. Although some members here have done this without any issue. http://www.irs.gov/taxtopics/tc513.html
Yea. US tax based.
Yea. US tax based.
2106 may allow for limited miles/meals for going to classes. Materials could also be deducted via this form. Memberships fees are ok likewise. Ordinary and Necessary