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Updated 4 months ago,
Real estate professional tax question
Hello,
I have a question about a strategy. Can you buy a house in an "Opportunity zone", rent it short term for the rest of the year. Get 100 hours of participation to become a real estate professional. Bonus depreciate it at 60% minus 25% for the land. Then the following year rent it long term for 10 years and sell it for no bonus depreciation recapture? "Because if you hold a property in a opportunity zone for 10 years you don't have to pay your bonus depreciation back? Would that work or no?