I am a new travel advisor as of November 2023 working as an independent contractor for a host agency. I also work a full-time job as an employee. As a TA, I did not receive any commission in 2023 so will not receive a 1099. I did however incur some start up expenses. Without a 1099, am I able to deduct those expenses? If so, how? Thank you!
You'll need to sign in or create an account to connect with an expert.
Yes, you are, within certain limits.
According to Business Startup and Organizational Costs in the IRS' Publication 535 (2022), Business Expenses,
Business startup and organizational costs are generally capital expenditures. However, you can elect to deduct up to $5,000 of business startup and $5,000 of organizational costs paid or incurred after October 22, 2004. The $5,000 deduction is reduced by the amount your total startup or organizational costs exceed $50,000. Any remaining costs must be amortized.
These would be categorized as Other miscellaneous expenses.
To enter, edit or delete other miscellaneous expenses in TurboTax Online:
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
masciarellis
New Member
RaKaha74
Level 1
mayanataros
Level 1
mayanataros
Level 1
aviaragirl
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.