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Updated over 5 years ago on . Most recent reply

User Stats

23
Posts
4
Votes
Aaron Osgood
  • Developer
  • Philadelphia, PA
4
Votes |
23
Posts

RE Professional Passing Losses to my wife's W2?

Aaron Osgood
  • Developer
  • Philadelphia, PA
Posted

I am by code a real estate professional. My wife is an attorney. We plan to file 'married filing jointly'. Through my real estate investments we can take about 400-500k in depreciation with bonus depreciation which should cover my realtor/wholesale income and her w-2 income. 

I am assuming that since we are married filing jointly that my depreciation losses will pass through to my wife's ordinary income. My question is, do we both need to be real estate professionals to take all of the depreciation or do we qualify if I am the only one as long as we file jointly?

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