All income on 1099 used for expenses.?
In 2010 my real estate broker paid my real estate fees amounting to $1,500. I received a 1099-Misc with this amount listed under nonemployee income. Could I expense all of this on schedule C?
- JudyLv 710 years agoFavorite Answer
Yes, as long as you can substantiate all of your claimed expenses. It's possible to even show MORE expenses than income for a given year.
- 10 years ago
Sure, as so long as you have legitimate expenses to offset the 1099 income.
- Redjr01Lv 610 years ago
Yes, as long as you have legitimate expenses to offset that income.