1348537
Hello,
I have monthly real estate fees and training costs that I paid for out of pocket in 2019 that are not reimbursable by my broker. 2 questions:
1: Are they deductible?
2: If so, where do I enter this information in Turbo Tax Deluxe?
Thank you.
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Job-related expenses for employees are no longer deductible on most people’s federal return in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017.
However, if you are a 1099 contractor, you can deduct those expenses on your schedule c.
To enter your home office, vehicle mileage, supplies, and other common business expenses:
Yes, you will include your Form 1099-misc income on schedule c. Once you have set up the information for your real estate business, you will be prompted to enter your income. You can also type 1099-misc in the Search box and then select the Jump to link to quickly reach the input screen.
Job-related expenses for employees are no longer deductible on most people’s federal return in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017.
However, if you are a 1099 contractor, you can deduct those expenses on your schedule c.
To enter your home office, vehicle mileage, supplies, and other common business expenses:
I received a 1099-Misc statement. So I can enter this information on a Schedule C?
Yes, you will include your Form 1099-misc income on schedule c. Once you have set up the information for your real estate business, you will be prompted to enter your income. You can also type 1099-misc in the Search box and then select the Jump to link to quickly reach the input screen.
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