Tax deduction on Real estate Books?

[Dustin B.]

I apologize as this may be a dumb question but I'm a complete new to REI. We bought our first duplex in August and are owner occupying at the moment. We haven't done our taxes yet but heading to a CPA in the next week. I was wondering if real estate investing books are considered tax deductible? We do not have an LLC yet so would it still fall under "business/education expense" ? Any information would help! Thanks

[Steve Vaughan]

Originally posted by @Dustin B.:

I apologize as this may be a dumb question but I'm a complete new to REI. We bought our first duplex in August and are owner occupying at the moment. We haven't done our taxes yet but heading to a CPA in the next week. I was wondering if real estate investing books are considered tax deductible? We do not have an LLC yet so would it still fall under "business/education expense" ? Any information would help! Thanks

 I'd say no.  College/education learned to do your craft isn't deductible. Can you imagine if college was deductible?

I have been doing this a while and have a mgt entity so I do deduct ongoing education and subscriptions.  I didn't deduct education before I got started though.   

The good news is, we're talking about what, a couple hundred bucks?  Picture the shocked people that bought a $30k guru program and find out that's not deductible!