Alot on information on offsetting W-2 income but not much on 1099-R income...

[Michell Chase]

I am currently drinking from a fire house on everything investment real estate.  Closing on my first investment duplex this week and looking for my 2nd.   I hear a lot about ways to 'off set' your W-2 income etc..   I am retired and collecting a pension and access to 401k funds (1099-R income)...so I am wondering how all of the information I am hearing about tax benefits as it pertains to W2 incoming applies to my 1099-R income.  I don't necessarily have specific questions because I am just learning everything.  My investment property is in upstate NY and I live out of state and am managing myself (via my brother that lives in town), not a house hack, long term rental on both sides.

[Joshua Thompson]

Hi Michell!  

Without knowing the specifics of your situation, typically real estate can offset 1099R income but I wouldn't use this as a blanket statement. I'm not sure if you're working with a financial advisor but if you're retired, receiving 1099R income, maybe social security, plus income from other sources you definitely want to speak with an advisor. Depending on your investment strategy, goals, current life situation etc., your entire financial and tax situation could change and possibly not for the better. 

I highly recommend speaking with a financial advisor or your current advisors then bring a tax professional into the conversation. Someone recently made a wonderful post about Medicare Premiums and how they can change if you invest in real estate at an older age.