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Updated 11 months ago on . Most recent reply
Exploring Rental Loss Write-Offs for Qualified Real Estate Professionals with $150K+
Can a qualified real estate professional with a W-2 income above $150,000 be allowed to write off rental losses on my tax returns?
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Sean O'Keefe
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Sean O'Keefe
#3 Tax, SDIRAs & Cost Segregation Contributor
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#3 Tax, SDIRAs & Cost Segregation Contributor
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Quote from @Phil Shelton:
Can a qualified real estate professional with a W-2 income above $150,000 be allowed to write off rental losses on my tax returns?
Based on what you say, yes.
You still need to meet material participation requirements.
REPS and material participation are annual tests.
Keep in mind there are lose limitations even for REPS.