Schedule E Help

How can I expense professional books and educational materials used to improve my knowledge about business, landlording, and general finance?



Do I use the "Supplies" line? It seems to be overused already...

Comments(2)

  • NewKidInTown330th March, 2006

    Do you have a business entity, such as an S-corp?

    How did you pay for the courses, business checking account or personal checking account?

  • NewKidInTown330th March, 2006

    The IRS issued a ruling last year that excludes a business deduction if the training materials were NOT paid for from your business account. Technically, paying with a personal credit card disqualifies this as a business expense.

    If you meet the requirements for a business expense, claim it as a "Miscellaneous" expense on your Schedule E (line 17 or 18).

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