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Updated over 8 years ago,

User Stats

88
Posts
35
Votes
Larry Watson
  • Flipper/Rehabber
  • King, NC
35
Votes |
88
Posts

Question about applying losses to W-2 income.

Larry Watson
  • Flipper/Rehabber
  • King, NC
Posted

I am in need of a good CPA. My current accountant says that I have to suspend most of my real estate losses do to the fact my wife is a high W-2 wage earner. I know you are limited to $25K if you are a non professional but now that I do this full time and have my Brokers license my losses should be unlimited. Due to my wife's position with her company are looking for a CPA that can officially sign off on our taxes because they have to be legit. 

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