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Updated over 7 years ago,
Real estate professional
Hello, I was curious if it would be beneficial for me to make efforts to qualify as a real estate professional for tax purposes. I am currently a stay at home dad but have the option to return to work at my previous profession anytime. ( which pays around 33k a year ) My spouse makes a considerable amount of money. (over 150k) I am curious if becoming a real estate agent would benefit us once we begin acquiring properties for rental purposes or would simply returning to my previous job be the better option once I'm done with the stay at home dad job.
I know it will depend.. of course.. but if faced with the same choices which would tax professionals see as the better option. Thank you!!