(TaxProf Blog) - To deduct education expenses under §162 a taxpayer must meet one of two âmustâ requirements and must avoid both of two âmust notâ barriers. The regulations explain. First, Treas. Reg. 1.162-5(a) gives us the two âmustâ requirements. The education must either (1) maintain or improve the taxpayerâs skills in their current trade of business or (2) be required to stay employed or keep an established status, such as a licensed professional...
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