- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If a realtor incurs expenses to repair a clients home, are those expenses deductible on that realtors taxes?
Topics:
2 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If a realtor incurs expenses to repair a clients home, are those expenses deductible on that realtors taxes?
Yes. Expenses incurred in the course of your real estate sales or property management activities are deductible.
This TurboTax article is a good overview of Tax Tip for Real Estate Agents and Brokers.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If a realtor incurs expenses to repair a clients home, are those expenses deductible on that realtors taxes?
@DavidS127 's answer is correct if the realtor is paid as an independent contractor and files Schedule C (which for realtors is usually the case). But if the realtor is a W-2 employee, those expenses are not deductible.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
Still have questions?
Make a post
Or browse the Forums