PatriciaV
Employee Tax Expert

Get your taxes done using TurboTax

Yes, your new business is reported on Schedule C, available in TurboTax Self-Employed Online.

Even though you had no income, you can report most of your expenses, like advertising, supplies, vehicle expenses (mileage), subscriptions, etc.

Costs to enter a new profession such as classes to take the Realtor's exam are not deductible.  Once you are qualified, however, annual licensing fees are deductible.

If you did not pay any vendor more than $600 total during the year, you are not required to file Form 1099-MISC to report those payments. Once you begin receiving income, you may receive 1099's from other businesses.

When you set up your business in TurboTax, you will need the Business Code for Offices of Real Estate Agents & Brokers, which is 531210.

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