1099 REALTOR

1 reply
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My wife is a new realtor and has incurred high start up cost with no off setting commissions; we file a joint return and I make money as a 1099; can I still use her business expenses as deductions to our total return?

Also is it better to buy or lease a vehicle used 100% for business between the 2 of us?

Thank you

OpeA1

Level 6

Yes, as long as you are filing a MFJ return and you are also entering her business expenses, it will reflect as overall income/loss on the return.

The decision to lease or buy a vehicle should be determined on your tax situation. I do not have enough information to answer this. I am adding our free tax calculating tool to help you with that decision: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

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