Hi Tax pro's, I need you input please on "Active vs Passive" status question.

[Val Csontos]

Just seeking for second opinion on this Tax situation:

 I am a fulltime Investor and I according to the IRS Sec 469c I qualify for the "Active" status, BUT my wife has a fulltime job with, w2 salary.

We own an S Corp Jointly from which we manage our properties.  So my question is, do we get to off set RE looses against her Salary (active income) and to what extent?

See below what I had found on this so far, so what so you all think?

Does that sound right?

Thanks for looking!

""A married couple filing a joint return will qualify as real estate professionals only if one spouse separately satisfies the two statutory tests.42 However, to determine whether a taxpayer materially participates in the rental real estate activity, Sec. 469(c)(7)(B) permits the taxpayer's spouse's participation to be taken into account. A married taxpayer filing separately must establish that he or she separately meets both statutory tests to qualify as a real estate professional and will not satisfy this requirement through spousal attribution.43""