Can you deduct the value of an LLM? I am getting conflicting opinions.

You can deduct as ordinary and necessary expenses the cost of education in connection with their trade or business that are appropriate or helpful to such business. Taxpayers can deduct education costs, in particular, as “ordinary and necessary” expenses if the education maintains or improves the skills required for the taxpayer’s current trade or business. If not, the expenses are considered personal.

Generally, these rules mean that if you aren’t a lawyer or a doctor and you go to law or medical school, you can’t deduct the cost of your tuition.

Juat to add, educational costs are not deductible if the education is required to get into a particular field (as opposed to staying in the field), or qualifies you for a new trade or business. That pretty much knocks out anyone thinking of trying to take a full tax deduction for junior's college education

Check out this case: The US Tax Court allowed a nurse to deduct the cost of her M.B.A. degree from the University of Phoenix. (Singleton-Clarke v. Commissioner).

T.C. Summary Opinion 2009-182
UNITED STATES TAX COURT
LORI A. SINGLETON-CLARKE, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent

FYI, Tax Court Memo decisions are not considered persuasive authority. Same weight as a private letter ruling. Be careful before you take advise in a forum.

If you deduct the cost of am LL.M as a business expense can you also get the education credit on your tax return?