Tax deductions for a former RE agent?
May 13th, 2010 by admin
I was a real estate agent at the beginning of the year of 2009, but unfortunately due to the slow market, I made no sales but racked up a ton of related bills. I understand that these things are tax deductible, but I made no income from my brief time there. Am I still eligible for any deductions seeing as how I made no income from the job and still had to pay bills and taxes, etc. Thanks in advance for any and all pertinent answers.
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If you had income last year from being an RE agent, the IRS is going to understand if you had no sales this year.
In fact, if you have substantial negative income, you may have a Net Operating Loss that you can carry back to prior years.