Question

I paid $10,000 for mentorship. How do I claim it on my taxes?

Forum|Forum|4 years ago
March 3, 2022
2 replies
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TurboTax Premier Online

Employee

Mentorship for what? Please explain.

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A

anytebaAuthor

For real estate investing.

M

Mike9241

can't be sure but it seems you may have invested in a partnership, LLC, s-corp, some fund or something else. we don't know. the membership is not likely deductible but we really don't have any details. in some cases you should receive a k-1 or other reporting form to report your share of the actual activity. generally, you should have received some documents describing the tax consequences. if not, contact the sponsor.

if it's a membership in like a golf course, it's not deductible.