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Updated over 5 years ago on . Most recent reply

User Stats

25
Posts
6
Votes
Adrian Peterson
  • Investor
  • Newport Beach, CA
6
Votes |
25
Posts

Mortgage/Tax Question For a 1099 Realtor - Advise Needed!

Adrian Peterson
  • Investor
  • Newport Beach, CA
Posted

My wife is looking to refinance a property she purchased more than 6 months ago. She is a CA Real Estate agent and receives a 1099 for her commissions. in 2018, she deducted a large write-off so that to avoid paying high taxable income. Consequently, the tax returns now show low income as a result of the write-off, thus disqualifying her from being approved for her refi.

Should our taxes have been structured differently? If so, please advise. Thanks! 

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