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Discussion Forum Index --> Tax Questions --> Real Estate Agents, Realtors
Skhyatt (talk|edits) said:
| 14 January 2006
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| Are Real Estate Agents considered self-employed and file a Sch. C?
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DZCPA (talk|edits) said:
| 14 January 2006
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| If they are not employees, they are self employed. Unless this a hobby!!
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Ensen (talk|edits) said:
| 14 January 2006
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| Even if it was a hobby, it would still require filing on sch C if it was profitable.
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DZCPA (talk|edits) said:
| 14 January 2006
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| You are correct. You would need to file a schdule C even if there was a loss. Just limit the net loss to zero.
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Riley2 (talk|edits) said:
| 15 January 2006
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| It depends on whether a Sec. 3508 contract is in effect. If such a contract is in effect, the agent is self-employed for all tax purposes.
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MLG (talk|edits) said:
| 2006 March 24
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| Having established that a Real Estate Sales Person is an independent contractor, does that also mean that they qualify for a home office deduction? Most R.E. agencies provide desk space and resources to agents. Many agencies also charge the sales person a fee for that space. I've read Pub 587 but am still having trouble making a decision regarding the home office deduction. Does anyone have any thoughts on the home office deduction for R.E. Sales People who seem to be on-call 24/7?
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Lois (talk|edits) said:
| 24 March 2006
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| My client base is largely realtors and real estate companies. They take a home office deduction IF they don't rent office space from their Broker company. The bull pen at Real Estate Companies is not where the realtor performs their substantial and regular business - it's only to use when they come through the office dropping off contracts.
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MLG (talk|edits) said:
| 2006 March 24
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| Thank you Lois. That is what I was struggling with ... most work is done on the road or at home.
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