It is a lot of money, but taxpayers also pay a lot in taxes and there should be some money for these types of things. 

The house is only in my name at this point, which was intentional when we married, and when we moved out of it as a primary residence to hopefully avoid ex’s gotta financial pursuits.

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

This has to do mainly with the timing of property tax payments for your own home (not for your investment properties) and your charitable donations.

Quote from @Andre Bertoncin: Hi, im 34, married w/ 2 young children.

You got to think the best exit is a married couple with kids; that's going to get highest bid.

In real estate, you can very realistically completely remove ANY bite, at least for a time, but also you get to make $ on what would be a tax payment (1031).

all are new constructions and I don't know how she is gonna be able to find 750h of work to do in these new construction houses.Any help appreciated Good questions, first the IRS requirements to meet Real Estate Professional Status (REPS) are: > 50 percent of his/her time working in real property businesses; AND, 750 hours of service during the year ANDAt least %5 ownerIf married filing jointly, one spouse must meet 750 hour requirement on their own.

But not married & no kids this is your time to go hard !

When selling a primary residence you have lived in 2 of the previous 5 years you get a tax exception on profits of $250k for a single person and $500k for a married couple filing jointly.