@badgertheferret wrote:
@SusanY1
It is self-employment income
Are you in the business of rehabbing and selling Real Estate? If so, pretty much all of the expenses are added to the cost of the house, and are part of your "Inventory" (Cost of Goods Sold). If that is the case, you don't actually get the deduction until the house is sold. So there is no "loss", but the expenses are used when the house is sold.
If that doesn't seem like your situation, you need to explain in detail about exactly what you do, how often you do it, and how you have reported things in prior years. You may also consider a tax professional.
