My kids have to take National and State boards for medical licence. Each costs about
2300.00Since they also work part time am wondering if the fees are deductible against income?
If so, what is that section or deduction called, ie. what form or where would I indicate this on a return?
The board exams are not part of their school costs as the state and national boards are administered and paid to totally separate entities.
Thank you.
Assuming this is being considered for a Schedule C or a Schedule A deduction, the general rule is that tests for a license or certification for the first time are not deductible. Renewals in connection with your trade or business may be deductible.
If passing this exam is required before a Med School grad can work in a hospital as an intern, then IMRHO the cost falls under the general rule above and it most likely is not deductible.
There are exceptions to the general rule. But, as expected, they are based on facts and circumstances. We need more information form which to make an informed guess in this case.
An example would be a Pharmacy student having passed the Pharmacy Technician license and working as one in a Pharmacy, may be able to deduct the cost of the Pharmacist exam because he/she is working in the industry.
Myself and many others I know wrote off the cost of Graduate Business School as Continuing Professional Education because we had Profesional Certifications that required 40 hours of relevant CPE credits each.
Lots of things are possible if you plan in advance.
Dick
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