Welcome to the MDTAXES Message Board

The MDTAXES Network is an affiliation of CPAs that specialize in the tax planning and preparation for young health care professionals.  Please leave your questions or comments for our CPAs, who visit the message board regularly, or review the answers, suggestions and ideas posted in response to your colleagues' questions.

Please check out our other Message Boards available at www.FindAGoodCPA.com.

Please note: We are NOT affiliated with the Maryland Tax Department. If you're looking for information about Maryland income taxes, go to www.marylandtaxes.com.

Return to Website  > Index  > General Tax Issues  > Original MDTAXES Forum  > license/usmle
Recent Posts
 
Original MDTAXES Forum
Start a New Topic 
Author
Comment
e
erin dowling
Mar 31, 2008 - 9:32PM
license/usmle

What is the best way to handle the fees associated with taking step 3 and obtaining your state medical license and DEA. The total is approximately 2300 so I am not itemizing.
I am in a residency program, do I qualify for any educational credits/deductions; i.e. the lifetime learner credit? thanks!

Zip Code: 90035

a
Andrew Schwartz CPA
Apr 2, 2008 - 8:23PM
Re: license/usmle

Unfortunately, you may be out of luck. The best place to claim those exam fees is against your self-employment moonlighting income. If you have none of that income, the second best place is as a miscellaneous itemized deduction.

If you won't be itemizing, I'm afraid you will lose out on that deduction. And you can't carry it forward to claim in future years.

Zip Code: 01801

Return to Website  > Index  > General Tax Issues  > Original MDTAXES Forum  > license/usmle