turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Is it worth upgrading to Turbo Tax Self-Employment. I have an active real estate license but not actively selling anymore. My intent is to make money on the side.

Is it worth upgrading to  Turbo Tax Self-employed.  I used to sell real estate full time but now I'm using my license for referrals only.  No income but have expense for continuing education and license fee.  I will be receiving a referral check but it will be for 2019 not for 2018 which I am now filing for.  Can I write education and fee in 2019 with income receiving?  

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
StephenL1
New Member

Is it worth upgrading to Turbo Tax Self-Employment. I have an active real estate license but not actively selling anymore. My intent is to make money on the side.

A Schedule C for your business should not be filed unless the activity is done with the intent to produce income in the current year. Expenses are deducted in the year they are paid for cash basis (the most common basis of accounting for small businesses) businesses.  Next year if you are operating with the intent to produce income, you should file a business return and you can deduct any expenses you have for that tax year.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies