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Updated about 2 years ago,
Using Passive Losses (STR or LT Rental) to offset Ordinary Income
Hello fellow Big Pocketers - I have a feeling that I am just out of luck here but thought I would reach out to the smartest group of people I know when it comes to real estate.
Situation -
-High earner in my W-2 job (not sure if this plays a factor in this, I have heard conflicting reports).
- Wife is a stay at home mom and spends ~3 hours a week managing our Short Term Rental. She currently does not work more hours than the cleaners.
- We have long term rentals that are being managed by a Property Management Company.
I don't believe we current are setup to meet the Material Participation requirements but would love to hear creative ideas from the group of how I might be able to clear this hurdle.
Thanks
Brian