In fact, the USTC has found in favor of the IRS when a taxpayer did not apply the law correctly (what everyone deems the loophole).

Last year we created a masterclass for helping ordinary people become the Local Developer in their community so that you can be empowered to do your own deals.

@Rud Sev Your Section 1231 losses from the sale of rental properties were likely correctly reported on Form 4797 (Part I) as ordinary losses, allowing them to offset all types of income.

v=T8-85cZRI9oI think it's ironic that the so-called experts that are calling bubble on bitcoin are the same ones that purposely create bubbles to enrich themselves and leave taxpayers holding the bag.

Most everyone that you've described or hope to reach is either an investor, an already learned and savvy buyer/seller, or a cheapskate, and that just doesn't fit the prototype of what the vast number of buyers and sellers are - ordinary people who just want a fair price on a house and to get in and out safely without having to learn the RE industry themselves or spend a lot of effort on the process.

Last year we created a masterclass for helping ordinary people become the Local Developer in their community so that you can be empowered to do your own deals.

If you operate the vacation rental as a short term rental, you will be able to take advantage of taking any losses you have on the property against your ordinary income.

I think when evaluating anything we should be critical of what is ordinary and what is extraordinary.

Right now the LLC is the taxpayer for the property.   

Cost segs unlock these savings, but the losses won't offset your ordinary income from your job unless you are an RE Pro.Here's how to think about RE Pro status to make the best case with your CPA and the IRS:RE Pro Status starts with the IRS definition of a Real Estate Professional (IRS Pub 925).It is not as simple as getting a real estate license or working for a firm that provides real estate services.Ask yourself these questions to see if you qualify:Q1: Are you in the right business?