Writing off Expense of Real Estate License?

[Account Closed]

My wife and I own our primary home and a rental property (that we used to live in) and are actively pursuing adding buy-and-hold properties. Our current rental is not under an LLC (I know, I know) We are currently looking at getting my wife her real estate license and I am curious if that can be a tax write off due to it being related to our business. We are currently self-managing the property. Her day job is not related to real estate at all. (The advice I WILL get to contact my accountant will be followed but I wanted to throw it up here as a question!) Thanks in advance! Jesse

[Dooreuhn Cee]

@Account Closed write it off without hesitation... As to the LLC, your house itself does not be be in an LLC for tax deductions, nor does your investment business need to be incorporated. You can write off as a sole proprietor or partnership. And LLC taxes are simply passed through to the individual anyhow.

However, having an RE license and an LLC are steps to maintaining RE professional status which can have huge tax benefits.