Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 2 years ago, 02/26/2023
buying an STR with a partner
My dad and I are looking into buying a STR property in Florida. We both want it to use as personal vacation property when we go down, but I'm predominately interested in it for the active loss tax benefit. Given some of the qualifying rules, such as "you must spend more time than any other person", I would assume he and I both would not be able to utilize the benefit of the active loss scenario? Would the losses be classified as passive losses for him, meanwhile mine are active-- assuming I meet the requirements...?