Stock Markets Exposed

Can a costly stock investing seminar/trading program be a tax deduction?

My wife purchased a stock investing education program from Investools for $5400. Can this be written off on my tax return as a deduction?

Public Comments

1. I believe you can write it off against investment earnings. For $5400, it must have made you a lot of money! Best if you ask you CPA.
2. Definitely. List it w/in loses you've sufer'd throuh the year.
3. It all depends on if you borrowed the money to buy the shares or if you paid for them outright if you borrowed and still owe money on the loan then you can negative gear the shares at tax time, speak to your accountant, because if you are uses the investment for an income you will have to pay tax on the earnings.
4. You can write it off as an investment expense as part of your itemized deductions.
5. No, Publication 529 which covers "Miscellaneous Expenses" expressly prohibits deducting "Investment-related seminars" "You cannot deduct any expenses for attending a convention, seminar, or similar meeting for investment purposes" Sorry, I hope it at least worked for you.
6. It depends if your stock trading is a business. If it isn't and simply anvesting well it isn't.