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Updated almost 3 years ago,
Real estate professional when filing taxes
so I’ve been learning a ton about the advantages of being a real estate professional and how you can use that depreciation from passive income producing assets to offset your earned income. And as I was reading it appears that anyone who is involved in real estate which would include remodelers in contractors counts as a real estate professional. Is this correct?
can I use depreciation from my investments to offset my earned income from my construction company?