Question

1099 REALTOR

Forum|Forum|4 years ago
October 27, 2021
1 reply
0 views

Hi

My wife is a new realtor and has incurred high start up cost with no off setting commissions; we file a joint return and I make money as a 1099; can I still use her business expenses as deductions to our total return?

Also is it better to buy or lease a vehicle used 100% for business between the 2 of us?

Thank you

O

OpeA1

Yes, as long as you are filing a MFJ return and you are also entering her business expenses, it will reflect as overall income/loss on the return.

The decision to lease or buy a vehicle should be determined on your tax situation. I do not have enough information to answer this. I am adding our free tax calculating tool to help you with that decision: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"