All Forum Posts by: Christian Drbal

thanks to all that replied, very much appreciated. I now know more about the Real Estate Professional qualification. Is there a site or link that lists the specific activities that qualify into the required working hours to become a Real Estate Professional?

thanks Zachary, I read where in order for me to write off the investment expense that I would have to be putting in 15 hours per week since as an investor since I'm full time W2 with a different employer. The way around that being for my wife to be the lead or primary member on the LLC. Just looking to verify as I'm setting up LLC docs. thanks for the help.

got it, but the business entity in question wether LLC, corp, or whatever the case... does it need to be 100% owned by my wife since she can position herself as "full time" investor as I'm a full time W2 employee currently. In short, if I invest $100k on a new property for long term rental, I want to make sure that I can position the $100k fully as a business loss in 2024 reducing my total taxable income by $100k. Hopefully I'm asking this correctly. thanks for the help.

I'm a full time W2 worker opening an REI LLC and want to ensure maximizing tax benefits for investment expenses under the LLC. I have my wife listed as 50% owner of the LLC as she is not employed. Does she need to be 100% owner of the LLC to maximize tax writeoffs of investment expenses?

state is KS if that matters.  

thank you