Taxpayer serves as both a financial planner and a real estate agent. 2017 was the first year she really tried to make a go at either of these endeavors (got licensed in 2016).
In 2017 had no gross income from the financial planning, but some expenses (licenses, insurance and personal use of auto). Had some minimal income (~$1500) from the realty business but expenses of more than that. Again license, insurance, marketing materials and personal use of auto).
Are the net losses from either or both activities deductible against other income (spouse?s wages, own severance pay, interest and dividends)?
In 2018 taxpayer will have gross income from financial planning (commissions) and from from real estate agency, but may end up with a loss in the real estate side. The businesses are closely linked. Many prospects are actual or potential. Liners for both businesses. Can she treat both of these as a single enterprise and just report one combined net income?