I am interested in getting a Biggerpockets Pro Membership, but I'm wondering if I would be able to deduct it as a real estate business expense. I currently have one rental. Does anyone know if this is possible?
Yes that would be a deduction as it is business related. It must be ordinary and necessary. In this case it would be education purposes.
Thank you all! I thought it should be, but I just wanted to make sure.
I would agree that it is tax deductible and can fall under other categories as well. One of which would be marketing/sourcing leads for real estate purchases.
@Steven Hamilton II 's point "ordinary and necessary" is spot on.
I currently own 2 rental properties but I am not incorporated. My rental income and expenses are reported on Schedule E. Where would I put the expense for BP Pro? Would I just put it as "Other Expenses" against one of the properties?