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March 6, 2024
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RE License

  • March 6, 2024
  • 3 replies
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Edit : Thanks for the responses! I appreciate the help.

 

Can I deduct the fees I've paid in 2023 for keeping my RE license active even if I did not make any money in RE last year? If so, on line 32 of the Schedule C which box do I check? All investment is at risk OR Some investment is not at risk??

Thanks for any insight!

    Best answer by VolvoGirl

    If you have money not at risk you can not take a loss on schedule C. If you don't know what it means then probably All your Investment is at Risk (check Box 32a). It means you are using your own money for the business.

    3 replies

    VolvoGirl
    VolvoGirlAnswer
    March 6, 2024

    If you have money not at risk you can not take a loss on schedule C. If you don't know what it means then probably All your Investment is at Risk (check Box 32a). It means you are using your own money for the business.

    March 6, 2024

    You can have a business loss if you had no income. Your investment is at risk. 

    March 6, 2024

    Yes, you can deduct the fees associated with keeping your real estate license active (Schedule C, Line 23).

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