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I am a teacher and a realtor. I did not make any income as a realtor this year. Can I deduct expenses I incurred as a realtor (MLS membership, etc.)?

 
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CatinaT1
Expert Alumni

I am a teacher and a realtor. I did not make any income as a realtor this year. Can I deduct expenses I incurred as a realtor (MLS membership, etc.)?

Yes, you can deduct your business related expenses. If you are a new realtor it's common to have expenses without income. Make sure all your expenses are ordinary and necessary and keep all your documentation (receipts).

 

Besides your MLS fees, don't forget your marketing/advertising expenses, including yard signs, baggies, business cards, etc. You might also have E & O insurance, lock box fees, and National, State and Local Real Estate Association Fees.

 

Below are a couple of links that might be useful to you. 

About Schedule C 

Self Employed Individuals Tax Center 

Tax Tips for Real Estate Agents and Brokers

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