Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
mohajamal
New Member

Can I deduct the book I bought to Improve my Day Trading Skills as expenses?

 
1 Reply

Can I deduct the book I bought to Improve my Day Trading Skills as expenses?

Thank you for your question.

 

It depends. If you are running a business and your main line of business is daytrading, then you may be able to deduct the book expense. However, if you are just trading on your own time and not doing it as a living, then you won't be able to deduct the book expense.

 

For more information, please see the link below:

 

What Kind of Expenses Can You Claim for Your Small Business?

 

If you have any questions, you can contact our phone support team or contact us via private chat on Facebook or Twitter.