Karl Welcome to Bigger Pockets !

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

Hello, I am new to Bigger Pockets and seeking guidance with my first real estate investment.

In a lot of ways my wife now runs our business, but she’s never read one book on real estate and never make one post on Bigger Pockets.

:) Congrats and welcome to Bigger Pockets. 

Then I bought a bigger condo for our primary residence in 2022 for 275k with a conventional mortgage (5% down,1.5% APR).

Welcome to Bigger Pockets.Mike

The cost segregation study generated $80k in passive losses, meaning a portion of that would be recaptured as ordinary income (at a 25% federal rate).

I am new to Bigger Pockets and this is my first post, so I apologize if these questions may seem very basic to some.

Tar  Welcome to Bigger Pockets !