Based on your assumption that you and your spouse file jointly, I agree with the others in the comments.

I started wholesaling and learned people like to work with verbal communications and no one had an interest to want to put any type of co wholesale of joint venture agreement together.

My understanding is that excess business loss limits in 2022 are $270k for single filers and $540k for married filing jointly.

The real estate investor has advertised on this site, and continues to advertise joint ventures and private money deals in multiple states.

Joint Filing Considerations.If you are married and file a joint tax return, either spouse can qualify as a real estate professional.

Purchase price: $550,000 Cash invested: $1,000 Sale price: $565,000 Joint ventured with another wholesaler in Northern Utah to get this deal done.

So if he is ownership, then he needs to be on.What you probably should have done is created your own LLC and have a joint venture agreement for each property/project.

@Joseph FennerTo acquire 167 rentals, use creative financing strategies like the BRRRR Method, seller financing, partnerships, joint ventures, HELOC/Equity Loans, portfolio loans, credit cards, and business credit lines.

Hi there,It sounds like you're looking for some advice on how to navigate a complex situation with your brother and your wife.First, let's address the joint account and mortgage issues.

Establish a Joint Ownership Entity: You could form an LLC or partnership for future purchases.