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Updated almost 5 years ago on . Most recent reply
Can RE professional take passive syndication losses?
I classify myself as a real estate professional and understand what that means. I own rentals directly.
I invested in many syndication deals in 2019 that generated over 100k paper net losses. Can I write this off against earned income? Does the fact it is a syndication disallow me what is otherwise possible for privately held RE?
I made these investments thinking I could, and I know others that have, but my CPA is adamant that I cannot. Any insight much appreciated. It's the difference between owing 50k and getting 5k back.
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#1 Tax, SDIRAs & Cost Segregation Contributor
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- Houston, TX
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#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
Take some strong coffee (or something even stronger) and try to figure out what we argued about on this older thread and whether we agreed on anything. Warning: very technical.
https://www.biggerpockets.com/forums/51/topics/647412-syndication-losses-against-active-income