Then you ask, "Why would I hop on a forum and spend my free time answering your question if it wasn't to help?"

The IRS has strict rules preventing passive losses from offsetting active income unless you qualify as a Real Estate Professional (REP).

When you submit for an EIN, comma is huge Chris Seveney, LLC will show up as Chris seveney as IRS stops at the comma. then try and get licensed in a state for something, creates havoc.2.

@Avery Moore From a tax perspective, purchasing properties through your LLC won’t necessarily change your tax liability, as the IRS often treats single-member LLCs as “disregarded entities,” meaning the income and expenses flow through to your personal tax return.

I’d be happy to hop on a call to discuss options.

Get the actual IRS docs.

As many other I am beginning my journey on real estate hopping to learn the most I can.

According to the IRS the vehicle needs to be used for 50% for business and needs to be "ordinary" and "necessary".Anybody who can give their expertise I would appreciate it.Thanks!

Would you be able to show me where that is found on the IRS website?

hey BP family,I’ve run into a bit of a roadblock, I’m direct to agent and I’ve wondering how to get around the new NAR settlement, as soon as I hop on a call with the agent, they ask if I’m represented and then hang up the phone no matter if I say yes or no.