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Updated 3 months ago on . Most recent reply
For Limited Partners
Did you know that Limited partners or real estate investors can absolutely benefit from depreciation?
RE Pro Status supercharges this.
If you or your spouse are an RE Pro, your LP investments can lead to depreciation offsetting both passive and active income.
If you are not an RE Pro, the losses due to depreciation can only be used to offset passive income—such as income from other rental properties or other passive investments.
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
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#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
Pro Member
#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
Limited partners usually cannot coattail REP status. Here is a detailed look into this issue:
https://www.biggerpockets.com/forums/51-tax-legal-issues-con...