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Real Estate professional & income loss
What is meant by “passive activity loss” for a real estate professional? I am currently 37% tax bracket and all passive activity losses are void for me (IRS form 8582).
However, it states that “unless the taxpayer is a real estate professional”, leading me to think one can capture RE losses/passive activity losses when they AGI is in excess of the current limits.
Anyone have experience and advice on this?