Tax Question- RE: Real Estate Courses - Posted by L(NYC)

import · February 15, 2001, 9:24am

Posted by Brent_IL on February 19, 2001 at 16:43:55:

nt

import · February 15, 2001, 9:24am

Posted by L(NYC) on February 15, 2001 at 10:24:41:

When filing my taxes this year I was wondering if I can deduct the course materilas that I purchased over the year for real estate, IM not a full time REI, but instead a computer analyst. Im looking at the lifetime learning section to file this under, anyone else doing the same or in the same poistion. Also, Im not a corporation or a DBA, is this year gonna just be a loss?

import · February 15, 2001, 6:27pm

Do you need related income to claim offset? NT - Posted by Brent_IL

Posted by Brent_IL on February 15, 2001 at 19:27:02:

NT

import · February 15, 2001, 10:13am

Re: Tax Question- RE: Real Estate Courses - Posted by Bud Branstetter

Posted by Bud Branstetter on February 15, 2001 at 11:13:57:

I have heard of people deducting this type of expense on Schedule E as an expense/other for a property. Check with your tax preparor. Also try to determine if they know RE and are agressive or not.

import · February 15, 2001, 9:32am

Re: Tax Question- RE: Real Estate Courses - Posted by Redline

Posted by Redline on February 15, 2001 at 10:32:37:

If you’re seriously going to pursue RE as a part time job - then you can set this up on your taxes and expense this material. It doesn’t have to be a full time gig. Talk to your accountant, keep all your receipts.

RL

import · February 16, 2001, 6:00am

Need profit motive to have a business… - Posted by JHyre in Ohio

Posted by JHyre in Ohio on February 16, 2001 at 07:00:02:

for IRS purposes. If you make a profit 2 out of 5 years, IRS will rarely question that such motive exists. Watch out for “cozy” arrangements…like renting to family at way below market rents.

John Hyre