☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 6, 2019 12:18:39 AM

On schedule C, do fees I pay to the real estate brokerage firm go on the Legal & professional line or as it's own line under misc?

I am a real estate agent that gets a 1099 from the real estate agency I work for.  On schedule C, do the monthly fees I pay them go on the legal & professional line or on their own line under miscellaneous?   Should MLS fees and Real Estate Association dues go on the professional line or under miscellaneous?   Are ink & stamps considered supplies or office exps?

0 1 4415
1 Replies
New Member
Jun 6, 2019 12:18:41 AM

If you do not find a description that matches your expense, you can/should enter it as an other deduction with a description.

For example, the lock box fee could be a part of office expense, the desk fee you pay your broker maybe rent expense. The Real Estate Association dues maybe "Dues & Subscriptions" or "Professional Dues". 

The idea is to separate them in a way that is easy to recognize for you and the IRS.  Do not lump a lot of items in one category like "Legal & Professional". MLS fees are a large expense - put them as an other deductions with the description "MLS Fees".