Best way to Lower Tax Bracket by Adding my Father?

[Catherine Javier]

Hello everyone, I am a rookie and need some light.

My spouse and I are recently closed on a LTR under LLC. Both of us are w2's with AGI >150k. We have read that even if you're an active investor, if AGi >150, there will be no deductions.

1. Is that true, will we even the losses from depreciation at all?

2. We cannot qualify as an REP since we only have 1 unit. and even if we convert to STR, we might not be able to qualify because we will use a property manager. Can we or Is it wise to add my Non- working & senior father in our LLC so that our tax brackets will be lower?

3. And if so, by how many percent?

Thanks a lot everyone!