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Updated over 4 years ago on . Most recent reply
Gregory SchwartzPoster
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Real Estate Professional
I have a question about being a "real estate professional" for tax purposes.
Do I qualify, if a work as a property manager (W2 pay) and manage/ workout my own 4 plex on the side? I intend on growing my portfolio and would like to use cost segregation to increase my paper loss and minimize how much I pay in taxes. I'm also a real estate agent part-time.
Thanks
- Gregory Schwartz
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- 443-812-0357
Schwartz Realty Group
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Michael Plaks
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
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Probably not if you have a full-time W2 job. Even though you're a property manager, these hours count as NOT real estate hours unless you own 5% of the company you work for.