How do i enter expenses at a real estate agent independent conttractor when i only have incurred expenses and did not ear any income. Additionally, employer did nt provide 1099?

[qjaved786]

How do i enter expenses at a real estate agent independent conttractor when i only have incurred expenses and did not ear any income. Additionally, employer did nt provide 1099?

[PattiF]

Yes. You can still claim your real estate agent expenses, even though you had no income. A loss in your business can offset income in other areas of your return and reduce taxes or increase refund.
 

You can deduct expenses as long as you can prove that you opened or were in business in the year expenses were incurred. To be deductible, a business expense must be both ordinary and necessary. Please note that if you do not have profit for three out of five years, IRS might question your profit motive.

As a real estate agent, you are considered to be self-employed. You report both income (if any) and expenses on Schedule C/Business Income & Expenses. 

We'll automatically complete Schedule C for you when you add your self-employment income in TurboTax (usually from Form 1099-NEC or 1099-MISC). Here's how to add your self-employment income:

1. Open or continue your return
2. Search for schedule c and select the Jump to link in the search results
3. Answer Yes to Did you have any self-employment income or expenses?
   • If you've already entered self-employment work and need to enter more, select Add another line of work
4. Follow the on-screen instructions

A 1099 was not issued from the employer because there was no income to report.