topic Can I deduct Real Estate School costs and all other real estate expenses, such as, mileage, fees for MLS listing, fees for Supra key usages, etc. in Deductions & credits

Can I deduct Real Estate School costs and all other real estate expenses, such as, mileage, fees for MLS listing, fees for Supra key usages, etc.

bbwestphal — Wed, 05 Jun 2019 00:57:06 GMT

Yes, if you are self-employed/independent contractor real...

Patrice — Wed, 05 Jun 2019 00:57:07 GMT

Yes, if you are self-employed/independent contractor real estate agent then you can deduct the cost of real estate school costs and all other real estate expenses, such as, mileage, fees for MLS listing, fees for Supra key usages. These are ll expenses that can deducted as business expenses.

Re: Yes, if you are self-employed/independent contractor real...

span007 — Sat, 01 Feb 2020 04:34:56 GMT

What if I hold real estate as part time job? I have a full time job which generate W2 for 2019

Thanks,

Re: Yes, if you are self-employed/independent contractor real...

MaryK4 — Sat, 01 Feb 2020 21:37:37 GMT

Yes. you can deduct expenses for a "part-time" business with a caveat: in order for business expenses to be deductible, there must be a profit motive. If you are deducting thousands with little or no income, the IRS may audit you because the business loss will actually reduce your total income.

See How do you distinguish between a business and a hobby?

@span007

Re: Can I deduct Real Estate School costs and all other real estate expenses, such as, mileage, fees for MLS listing, fees for Supra key usages, etc.

FILLUPXP — Wed, 15 Apr 2020 19:13:37 GMT

My wife is the agent and I just paid the fee's with my accounts.

We are filing joint however the accounts I paid for them are only under my name.

Who should write off the deductions me or my wife?

Re: Can I deduct Real Estate School costs and all other real estate expenses, such as, mileage, f...

AmyC — Wed, 15 Apr 2020 19:44:26 GMT

@FILLUPXP

The expenses for your wife's business will go on her business return. If she has not yet made money, they will go into her start-up expenses the year she starts making money.

See What self-employed expenses can I deduct? and select Real Estate Professional.