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5 May 2024 | 6 replies
I would also ensure you can even qualify for the cost seg by making sure you either qualify for REPS(real estate professional status) or STR loophole (short term rental loophole)
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5 May 2024 | 2 replies
The REPS-9 election prohibits grouping short-term and long-term rentals, emphasizing the need for careful strategic planning.
4 May 2024 | 3 replies
Material Participation Activities:
Property Maintenance: Engage in repairs or construction work on the property to maintain or enhance its condition.
Contractor Management: Oversee the hiring and coordination of con...
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5 May 2024 | 15 replies
Unfortunately, you have to call these OTA's many times over until you get a customer service rep who sympathizes, is knowledgeable about the platform rules and is willing to actually help you.If you don't want to ride it out, i think you have options.
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5 May 2024 | 9 replies
The benefit of working with a quality rep is that not all sponsors are created equal.
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5 May 2024 | 17 replies
REPS only applies to rental activities, and STR is not considered a rental activity under IRS code.Also, the $150k AGI limit applies only to rental activities, and not STR.
5 May 2024 | 5 replies
If that is the case, then the 20,000 loss will be carried forward... unless REP or STR.On the SALT question it depends on your state.
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3 May 2024 | 10 replies
I have read dozens of posts about REP status and it's still clear as mud to me.
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6 May 2024 | 65 replies
Now I'm actually paying more tax, so I need to buy another bigger building ASAP to make my REP status worth its name lol...
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6 May 2024 | 27 replies
In a previous life I used to hire sales reps.