Last visit was: 15 Sep 2026, 19:19 It is currently 15 Sep 2026, 19:19
Home
Messages
Tests
Schools
Events
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel
Back to Forum
Create Topic
User avatar
GMATBLACKBELT
User avatar
Joined: 29 Mar 2007
Last visit: 03 Jun 2013
Posts: 1,137
Own Kudos:
1,941
Posts: 1,137
Kudos: 1,941
Can I deduct the cost of the GMAT? 01 Mar 2008, 22:40
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I was curious whether I could deduct the costs of my GMAT exam. Also maybe even my MGMAT course I took for my GMAT.

Would be awsome to save some extra $$$.
User avatar
buffdaddy
User avatar
Joined: 14 Oct 2007
Last visit: 13 Jan 2011
Posts: 545
Own Kudos:
306
Given Kudos: 8
Location: Oxford
Schools:Oxford'10
Posts: 545
Kudos: 306
Can I deduct the cost of the GMAT? 02 Mar 2008, 05:35
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Hi GBB,

Deduct the cost from what?

Do you run your own company? I do not know what the rules are in the USA.
User avatar
ashkrs
User avatar
Joined: 08 Jun 2007
Last visit: 21 Feb 2019
Posts: 282
Own Kudos:
353
GMAT 1: 680 Q48 V35
Posts: 282
Kudos: 353
Can I deduct the cost of the GMAT? 02 Mar 2008, 12:40
Kudos
Add Kudos
Bookmarks
Bookmark this Post
buffdaddy
Hi GBB,

Deduct the cost from what?

Do you run your own company? I do not know what the rules are in the USA.
Show more

I guess he is talking about tax filing...
GBB - I dont think so ..I just filed my tax today...at least the accountant didnt ask any question about any exams ..though he did ask me if I am paying any educational loans or not.
User avatar
swbluedevil
User avatar
Joined: 01 Jun 2006
Last visit: 26 Aug 2018
Posts: 207
Own Kudos:
42
 [1]
Given Kudos: 7
Affiliations: Google, Facebook
Location: United States (CA)
Schools: Haas '15 (M) Kellogg '15 (A)
GMAT 1: 750 Q50 V40
Schools: Haas '15 (M) Kellogg '15 (A)
GMAT 1: 750 Q50 V40
Posts: 207
Kudos: 42
 [1]
Can I deduct the cost of the GMAT? 02 Mar 2008, 17:17
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I'm pretty sure you can only deduct the cost of the GMAT and any other costs associated with biz school if you are attending business school to advance in your current career. If you are going to business school to switch careers, then you can not deduct any of the associated costs.
User avatar
GMATBLACKBELT
User avatar
Joined: 29 Mar 2007
Last visit: 03 Jun 2013
Posts: 1,137
Own Kudos:
1,941
Posts: 1,137
Kudos: 1,941
Can I deduct the cost of the GMAT? 02 Mar 2008, 19:43
Kudos
Add Kudos
Bookmarks
Bookmark this Post
swbluedevil
I'm pretty sure you can only deduct the cost of the GMAT and any other costs associated with biz school if you are attending business school to advance in your current career. If you are going to business school to switch careers, then you can not deduct any of the associated costs.
Show more

thx man
User avatar
maverick101
User avatar
Joined: 02 Jan 2008
Last visit: 28 Apr 2008
Posts: 170
Own Kudos:
39
Location: Toronto
Posts: 170
Kudos: 39
Can I deduct the cost of the GMAT? 03 Mar 2008, 07:23
Kudos
Add Kudos
Bookmarks
Bookmark this Post
ashkrs,

I'm not sure if you can deduct the cost of GMAT, but I think you can deduct if you had taken a preperatory course. Again I would ask this, instead of waiting for the accountant to ask.

I know it would be great if we can deduct these $$$
User avatar
sonibubu
User avatar
Current Student
Joined: 20 Aug 2007
Last visit: 18 Aug 2011
Posts: 810
Own Kudos:
158
Given Kudos: 1
Location: Chicago
Concentration: Strategy, Management, Finance
Schools:Chicago Booth 2011
Posts: 810
Kudos: 158
Can I deduct the cost of the GMAT? 03 Mar 2008, 07:46
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I run my own business on the side. I wonder if GMAT and prep classes can be deducted in my case -- I'll look into it. The MBA is definitely going to help grow my business.
User avatar
TimeSquareDesi
User avatar
Joined: 25 Jul 2007
Last visit: 07 Feb 2011
Posts: 375
Own Kudos:
39
 [1]
Given Kudos: 148
Location: Times Square
Schools:Baruch / Zicklin
Posts: 375
Kudos: 39
 [1]
Can I deduct the cost of the GMAT? 03 Mar 2008, 08:37
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Can't you deduct the GMAT as an educational expense? I put in for tuition, books, etc, I would think that the GMAT falls into the same category - correct me if i'm wrong...
User avatar
vinviper
User avatar
Joined: 25 Aug 2005
Last visit: 07 Oct 2008
Posts: 120
Own Kudos:
8
Posts: 120
Kudos: 8
Can I deduct the cost of the GMAT? 04 Mar 2008, 14:34
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I woudl say yes
User avatar
Tarmac
User avatar
Current Student
Joined: 18 Oct 2007
Last visit: 12 Sep 2011
Posts: 431
Own Kudos:
71
 [1]
Given Kudos: 2
Location: USA
Schools:Tepper '11
Posts: 431
Kudos: 71
 [1]
Can I deduct the cost of the GMAT? 05 Mar 2008, 13:36
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Your best bet is to try to get it reimbursed from your work as continuing education. but I didn't bother trying this.

Applications alone are gonna cost 1k+, if interviews happen, it could cost another 2k, whats the point of another $250. drop in the bucket