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Updated 12 months ago on . Most recent reply
Qualifying for Depreciation using STR
My short-term rental is out of state but I manage it remotely (mostly guest communications and troubleshooting issues) and if I include in that the time I spent getting it ready to rent, I would say I materially participated and even more than anyone else (i.e. cleaner). Can I claim the losses as active against W2 income? I am trying to figure out how far can my STR be to show I am material participation
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Michael Baum
#2 Short-Term & Vacation Rental Discussions Contributor
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#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
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Michael Baum
#2 Short-Term & Vacation Rental Discussions Contributor
Pro Member
#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
Hey @Vikranth Biradar, I agree with @Bill Hampton.
Get yourself a CPA who knows real estate and is an investor themselves. It will make life much easier and worth the cash!