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New Member
posted Oct 31, 2019 1:37:41 AM

What business shall I select for Real Estate Professional?

I am a fulltime employee getting a T4 and also got my Real Estate License in August 2018 as well. What business shall I select as 2nd employer? Also, can I deduct my expenses for 4 months of 2018 without earning any income from Real Estate Business?

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New Member
Oct 31, 2019 1:37:42 AM

You are not allowed to deduct any expense against your T4 income unless you have T2200 from employer. 

Cost of your Real estate license courses should be treated as Tuition and if you had to  pay for exams it is also claimed  under tuition. 

For business expenses in 2018 that you had in Real Estate sales  you have to complete Business form T2125  even though you did not generate any income.