For STRs, material participation rules apply, and STR income is treated as non-passive, allowing losses to offset active income.This post does not create a CPA-Client relationship.

Get with your CPA on this.

Consult a tax advisor to optimize the use of passive losses and explore potential benefits from selling stocks.This post does not create a CPA-Client relationship.

The more you know upfront, the less your spreadsheet surprises you down the road.One last note: I’m not a lawyer or CPA, so keep this strictly as friendly advice.

This is essential for lenders or CPA.

It’s crucial to consult your lender, document everything, and seek advice from a real estate attorney or CPA to align with your long-term goals.Good luck!

Additionally, filing establishes a record of your business activities, which can be beneficial for future deductions or tax compliance.This post does not create a CPA-Client relationship.

@Jason MonacoQuestion for your cpa but if you were to write it off and did get something then you would have to claim that as income so probably best to follow whatever they give you for a k-1Did they give out k-1’s last year?

This post does not create a CPA-Client relationship.

@Shawn Smith we've got several clients from Toronto and also Vancouver.So, we've got referrals for experienced tax attorneys, CPA's, etc. for Canadians and foreigner investors in general.What are you purchase criteria?