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Updated 8 months ago, 04/17/2024

User Stats

85
Posts
8
Votes
Gaurav A.
  • Los Angeles, CA
8
Votes |
85
Posts

LP In Syndication | losses from Syndication & W2 income

Gaurav A.
  • Los Angeles, CA
Posted

Context: My spouse is a real estate professional by materially participating in the management of multiple Single family Residential.She spends more than 750hr and keep a methodical record oh the activities. Plus this is more than 50% of her work activity. We file our taxes jointly.  All good there. 

Question: Now I have also started to participate in real estate syndications as an LP. Can we takes losses from syndications (as a LP) and deduct those losses from our W2 income, Based on the fact that my spouse qualifies as a real estate professional?
I have been told that this can be done, but I am not sure how.

Any guidance will be helpful. 

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