Does anyone have a good link to how to deduct from w2 income using real estate “losses”. I understand it mostly but I need my wife to more and I can’t get her on board,
I’m trying to convince my wife it’d be worth her time.
we’re a two physician house but she’s not practicing because we have 5 kids under 4 plus she has to do residency. I’m not sure how much it would help currently as we have only 2 pretty profitable and inexpensive properties.
what sort of portfolio would we need to make a dent. I will gross about 525,000$ this year. If she were to practice, she’d do part time and thus only be 150k or so. Does anyone have strong opinions or savvy advice for this?
I don’t have much borrowing power as banks let me buy all 3 if my properties with 0 percent down (physician loan) and I’m only 32. I don’t have a lot of time built up building equity. Also, have 500k in student loans that I am waiting until 2027 to have forgiven via a government program. So might not be able to expand a ton until then anyway.
