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Updated about 8 years ago on . Most recent reply

User Stats

352
Posts
55
Votes
Huiping S.
  • Homeowner
  • Tampa, FL
55
Votes |
352
Posts

Can i claim tax expense deduction as a part-time realtor?

Huiping S.
  • Homeowner
  • Tampa, FL
Posted

I have a full-time job and part-time as a realtor (few months during 2016).  I got the 1099-MISC. To prepare the license there are expenditures, including pay for BP membership.

Can those expenses be deducted on my 2016 tax return?

If yes, this is not employee expenses because I am not the employee of the broker, which expenses should I claim on tax return?

The TurboTax seems show I can deduct it when I enter the income, but I couldn't figure out where to deduct it.

Thanks for help!

Most Popular Reply

User Stats

249
Posts
52
Votes
Jamie Engledow
  • Boca Raton, FL
52
Votes |
249
Posts
Jamie Engledow
  • Boca Raton, FL
Replied

Huping, you received a F1099 for commissions as a real estate agent?  If so, file a Schedule C reporting all incime received as a real estate agent whether or not reported to you on F1099.  Then you can deduct your ordinary and necessary expenses for your business as a real estate agent on schedule C.

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