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Updated about 1 year ago,
Real Estate Professional Benefits
Hi, I'm buying a rental property in GA with a partner 50/50. Both names on the title. My wife can qualify as a real estate professional. She will not be on the title but we file jointly. Is there any issue when using the Real Estate Professional deductions with the fact that I co-own the property with a partner. My assumption would be that I can use the deductions for my 50% share of the property.
Thanks