Do 1099 realtors qualify for the “PPP” government program

[Mike L.]

Hi everyone,

I’ve had the hardest time figuring out if 1099 independent contractors working as real estate agents qualify to get money from the government under the disaster sba forgivable loans. It seems that we do, but does anyone have any clear direction?

Thank you,

Mike

[Mike L.]

@Mike L.

Why yes, Mike. Here is some good info

https://www.carcovidupdates.org/relief-faq-for-agents

Seems like 1099 independent contractors will just fill out the same application as the small businesses. And under payroll, will just average their 2019 monthly x2.5, excluding anything over $100k annualized. So the max monthly would be $8,333.33= max application $20,833.32

Any disagreements? Thoughts?

Mike