Are CPA exam fees tax deductible or can you get a tax credit for amounts paid?

Hi, I was wondering if there was anywhere where i can use the fees paid to take the CPA exam on my income tax form.
I am already in the accounting profession and the CPA license is required to advance in my job.

Haha, I had a co-worker wondering the same Q, yes it is deductible, but I think it’s classified as a misc. deductible, either as an edu expense or business exp; So I think it’s subject to the 2.5% floor of your AGI.

Something about expenses on improving skills that enable to further in your profession.

Also note that if you get reimbursement from your employer, you would not be able to deduct this expense.

2 Responses

  1. v b Says:
    July 30th, 2009 at 11:30 am

    No. It’s a cost towards a new career, so it’s not deductible even as a job search expense.
    References :

  2. Ken F Says:
    July 30th, 2009 at 12:05 pm

    Haha, I had a co-worker wondering the same Q, yes it is deductible, but I think it’s classified as a misc. deductible, either as an edu expense or business exp; So I think it’s subject to the 2.5% floor of your AGI.

    Something about expenses on improving skills that enable to further in your profession.

    Also note that if you get reimbursement from your employer, you would not be able to deduct this expense.
    References :

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Posted on July 30th, 2009 by admin and filed under CPA |

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