Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply presented by

User Stats

1
Posts
0
Votes

Can my partner and I both claim 'Active Participant' tax rebates?

Jason Williamson
Posted

My partner and I (not married, single filers) own a rental property through our LLC which we own 50/50. This is our first year with the rental property and we will post a loss of ~$4k. Through property taxes, interest payments and depreciation we have roughly ~$18K in write offs. We have read that 'Active Participants' can claim <$25K of write offs on their personal non-passive income.


Since we have both been actively involved in finding tenants, completing repairs etc.. Can we each claim this status to offset our separate other sources of income? The assumption would be we would split the credit and each take a ~$9K write off on our individual returns if possible.

Any help would be greatly appreciated, thank you!

Loading replies...