Can you deduct the amount you spent on a REI Seminar Training ?

[Angelle James]

Hey Good Afternoon Everyone, This question is primarily for the seasoned REI and or CPA Here's a little bit of my situation. In my search for buying a home at 26yrs old this year, I stumbled across an ad for a free REI seminar. If you know where this is going, I was basically sold by GURUS to spend a large sum of money to receive training in RE investing. In addition to the money I had saved and an awesome credit score, I applied for 3 Credit cards. Purchased a 26k package with the "Dave Seymour Gurus" and you know my credit score hurtfully fell below average.This has placed me in a bigger hole, not to mention I was recently laid off a month ago and still looking for a new job. During my free time I've read a few books, even the bigger pockets book by Brandon turner " No or Low Money Down..... Awesome book! If I would have known that BiggerPockets could have simply equipped me, I could have saved my money and my credit. While I'm dealing with a rough patch.... Can someone let me know if I can write off the total expense paid as an educational expense to start up my business? even if it through my credit cards?

[Natalie Kolodij]

Hi Angela

Unfortunately the answer is no. Education expense to start a new career is not deductible. There was actually just an  in depth thread on it that discussed tax cases as well and ultimately even when other expenses were allowed as "start up" - education to go into a new career field is disallowed. 

Sorry :( 

https://www.irs.gov/publications/p970/ch12.html