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Updated over 2 years ago,

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Asia Whited
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Deducting RE courses/coaching/membership fees

Asia Whited
Posted

Has anyone had success deducting fees from a REI membership that includes coaching/courses/workshops/etc without an entity in place? I have rental property that isn't yet in an entity and no other business as of yet, just w-2 and 1099. I have heard various opinions from no you can't do that, to yes you can deduct it as consulting because you did that to increase your knowledge and investing not for fun, to you can count it as start up costs if you start a business entity within a year of the date. Entity plans are still in process unsure of which direction I'm going in and the fees were paid lump sum in Nov 2021. Thank you in advance for your thoughts.

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