I would recommend for your wife to get the real estate professional designation, which means she would have to document her hours of work in that area (and pass the 50% and 750 hours test), so that the collective outcome of all your properties is looked at together (you have to actively make that selection when filing your taxes) - if you still have losses overall (even if they are just phantom depreciation or rollover losses), you would then be able to balance out those losses against your active income (of either of you).Remember that the fact that your wife has a license is irrelevant for the RE professional designation - it is all about the time spent and the type of work done.Do talk to a professional on this. and good luck!

I have a Traditional IRA that includes some contributions during years when the contribution wasn't tax-deductible because I or my wife had 401k accounts.Last year I did a rollover of the entire Traditional IRA into my Solo 401k, and then did an in-plan rollover of my entire Solo 401k into a separate Roth-designated Solo 401k account.I'm trying to figure out how to get TurboTax to understand that part of that in-plan Roth rollover shouldn't be taxed because some of the original Traditional IRA money was already taxed (and I haven't yet submitted the 1099-R for that rollover, so I need to do that).Then I came across this...https://www.mysolo401k.net/nondeductible-ira-contr...That article claims that you can't actually rollover nondeductible traditional IRA funds into a Solo 401k at all.  

As you know, a CPA is a designated abbreviation, after passing the state test.

When new tenant moves in and I know place is clean and empty, I have them treat the interior.

Purchase price ~190kRenovations ~30k - new kitchen, remove chimney, knockdown and redo walls around chimney/kitchen, new ductless HVAC, hardwoods, Redo bathroom, full interior paint, Full replumb, updated electrical.  

When you setup a business you need to designate Officer(s) who are authorized to sign for the business, obligate and represent the business in contracts, etc.

and at the end of the day, we need to be able to use common sense in getting into a door.Yes, you will need a WiFi set up to control the lock at your location and a very cheap subscription if you want to control the locks remotely -  but you don't have to.Beware of shiny, good "Apple" design looking products made of cheap and light plastics, especially when it comes to longevity and the heavy mechanics needed to withstand millions of physical movements and human force. 

For the interior bathroom work none of the local plumbers here (and I mean big companies) would even mention permitting on a remodel unless you specifically ask them to.

The home is up the street from a lake and the interior of the home has a TON of wood.

Hello All, I have been doing some reading up on how to use 'excessive losses due to depreciation' and of course came across the Real Estate Professional Designation for tax purposes.