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Updated almost 9 years ago,
Real estate tax breaks
Hello
let me first briefly introduce myself - i am a San Diego resident with a couple of properties in the Phoenix area. I would consider myself a newbie investor and still learning the ropes of the RE game. I just filed my taxes for 2015 and realized that i am not getting any breaks for the RE properties that are solely considered a passive investment and hence i am unable to offset some losses with my other gains. I would like to consult with the experts here on understanding what breaks are available for RE investors and whether they require active management? Would becoming a licensed RE agent become the logical next step? What are people's experience with tax breaks for RE investments specifically passive ones?
Please let me know your thoughts. I look forward to your responses
Thank you
Vasanth