Which of the following self-employed taxpayers may deduct their education expenses as a trade or business expense on Schedule C?

• Mike incurred $475 in fees related to his stock broker professional licensing exam.
• Hilda incurred $1,050 in expenses to meet the legal requirements to maintain her CPA license.
• Marion is a tax accountant. During the year, he began law school and paid $5,000 in tuition. While Marion does not want to practice law, he feels that a law license will enhance his tax practice.
• Gilbert is a licensed CPA. Since there were some significant auditing rule changes during the past few years, he took a graduate level auditing course at the local university to improve his understanding of the current professional standards. Total cost of the course was $2,000.

		Gilbert and Mike
		Marion, Gilbert, and Hilda
		Hilda
		Hilda and Gilbert