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Updated 9 months ago,
?: Tax Deduction on people who are on W2 and do the rental property Investing
Hello!
My wife and I are both W2 employees. We are carefully looking into starting rental property investing. However, one of our objectives is to reduce the tax burden we face on our W2 income. However, a local real estate investor in a similar situation once told me he couldn't get the tax deduction because he didn't qualify as a real estate professional on one of my posts in the forum.
I thought it would be best to ask others to see if they were in the same situation and got to reduce the tax burden on their W2 income and grow the investments simultaneously. If there is anyone on W2 income with a relatively high tax bracket, could you please tell me if you successfully reduced your taxes with your rental property investments?
Thanks for looking into my post and question.