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Updated about 2 years ago, 10/13/2022
Achieving Real Estate Professional Tax Status
Hi BP Community-
I have been reading about the benefits of achieving the "real estate professional" status for tax purposes. I understand the specific rules laid out in the guidance but am curious to hear examples of how people in the community have actually gone about achieving this status. As an example: Did anyone make a switch from their traditional W2 job (unrelated to real estate) and move into an "approved" real estate professional role?
Thanks in advanced!