I am the broker of a real estate company and my brokerage has a corporate license and I have a separate broker's license. When I pay my annual real estate dues out of my pocket without reimbursement from the company or if drive to appointments without reimbursement, can I take a tax deduction for that and would that be on a schedule C form or some other form?
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Hi,
Whether or not you can take a deduction for either your unreimbursed brokerage license or your mileage depends on whether you are a consultant or an employee of that corporation. If you are an employee, both of these items would be considered unreimbursed business expenses. The Tax Cuts and Jobs Act generally eliminated a deduction for those expenses starting with 2018 (so you would not be able to get a deduction). Here is an article that explains that more fully. Note, some states retained that deduction. Let us know if you need more help on your state by posting a new question and indicating where you live/work.
If you are an independent contractor to that company (likely you would have a 1099 from them), many items become deductible, including likely the license. Whether or not the mileage would be deductible depends on whether it is commute mileage (not deductible) or not. Generally to deduct trips as a self-employed person, you would have to have a home office.
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