MarshallChris91
Junior Member
California
I have been a real estate broker for the past 3+ years. I decided to go to law school to specialize in real estate law. I will graduate in May with a certificate in real estate law. I have made $250,000 for the past 3 years and want to write off my law school expense of approximately $20,000 per year (the other half is a scholarship).
When I filed my taxes last year, my tax professional said I could not write off the $20,000 because it qualifies me for a new profession. However my sole intent to go to law school was not to become a full time attorney upon graduation but to learn more about real estate laws and become a better real estate broker.
From what I gather, there is not even any other education write off I can use. Because I am filing my taxes in the next few months, should I amend my 2011 tax to include the law school as a write off and apply it in 2012 as well? If so, is there a case or law I can use to justify this? Is there a high chance of being audited? Any information on this would be appreciated.
I have been a real estate broker for the past 3+ years. I decided to go to law school to specialize in real estate law. I will graduate in May with a certificate in real estate law. I have made $250,000 for the past 3 years and want to write off my law school expense of approximately $20,000 per year (the other half is a scholarship).
When I filed my taxes last year, my tax professional said I could not write off the $20,000 because it qualifies me for a new profession. However my sole intent to go to law school was not to become a full time attorney upon graduation but to learn more about real estate laws and become a better real estate broker.
From what I gather, there is not even any other education write off I can use. Because I am filing my taxes in the next few months, should I amend my 2011 tax to include the law school as a write off and apply it in 2012 as well? If so, is there a case or law I can use to justify this? Is there a high chance of being audited? Any information on this would be appreciated.