All Forum Posts by: Pier Di Giorgio

I considered the 1031 exchange but I rather sell before the end of the year because I can offset my passive losses since I will qualify as a REPs. thank you for the link 

@ David M. 

Thank you for your reply. I can be wrong but my strategy is to reduce my personal income and consequentially reducing my long-term capital gains tax rates. The REP status allows me to reduce my active income because I will have 3 cost seg studies done on my properties, bringing passive losses onto my active income. Does it make sense or am I missing something? 

Hello BP community,

I am a real estate investor with a portfolio of 6 rentals. This year I will qualify as a Real estate professional and I will also make a grouping election for all of my real restate units. I am planning to sell one these properties and I will gain around $100,000. 
Can I reduce my tax burden if I qualify as a Real Estate Professional? Will the grouping election have any tax implications on the sale of that unit mentioned above?  

thanks, 

P. 

 That's correct. My concern is that when you do the grouping election, you cannot unlock the passive losses if I sell one unit because you need to sell the properties as whole. I guess my question is if I can create a groups of 4 if I file with an election in place.

 Thank you Michael. Since I am selling 4  of my units within the next 2 years, my goal is to group only the properties that I will keep for long term. So I was wondering if I can group only 4 of the 8. This year I will apply for a REPs status and I will need to group some of my rentals in order to meet the minimum of 500 material participation hrs total.  

Hello BP community, I am an investor who owns 8 properties. Can I make a partial grouping election which includes only half of my portfolio? For instance, grouping only 4 of my rentals? thank you, Pier 

thank you Chris and Joseph. 

Hello BP, I own several rental properties and I have a W2 medical sales job. I am recently married and my spouse is applying for a permanent resident status, she is currently on a tourist visa.  Can we file next year taxes and qualify her as a real estate professional for this year? thank you Pier 

@Malgorzata Sadowska thank you so much for the referral. Pier 

thank you Allan. agreed. I am currently looking for a CPA in the miami area. open to suggestions. thnx Pier