Ryan Morgan
Real estate professional status
Do both spouses need to obtain real estate professional status to receive the tax benefit?
Azin Eftekhari
Real Estate Professional Definition
Hi everyone,Can someone kindly explain the phrase underlined below in simpler English? A qualified real estate professional is a taxpayer who owns at least one interest in rental real estate that:
Performs more than ...
Karl S.
Qualifying as Real Estate Professional out of state
I posted earlier on trying to reduce my W2 income with REI, and got mostly positive responses to my idea.Now I wanted to get an opinion of a few CPAs and investors on how to qualify as RE professional when mainly inve...
Amy L. Pagels
Tax benefits for newbies - wait to close on STR until 2023?
We are new investors and looking to put an offer down on our first property in the next week as a STR. My question is for tax purposes, are we hurting ourselves in terms of the qualification of materially participati...
Greg H.
Discount for Paying Property Taxes Early in Texas
Just a reminder to check and see if your taxing authority gives you a discount for paying by October 31st. I own several properties in Texas where I get a 3% discount for paying by October 31st. 1% per month is not ...
Cam Jimmy
Borrowing from your 401k question!
I've been aware of the strategy of using your 401k to borrow money from to buy real estate for some time now. You can borrow up to $50k and pay interest to yourself... got it...awesome. However, in my area the houses ...
Pratik Jhaveri
Can you pass through rental income loss using an LLC?
Hi,I'm in the process of closing on a MFH and am getting mixed advice from two CPAs (one of them is my current CPA). At this time we are going to take title as individuals as one of the units with be owner-occupied by...
Matt Wilcox
Any Other Deductions?
I keep hearing/reading about people that are not paying taxes on their rental income because they can offset it with deductions. I can't come up with enough to cover the income. What am I missing. I am deducting:
-...
Michael Buska
Does the STR "Loophole" work for Cost-Seg, if not self-managed?
Hey Everyone,NJ investor here, looking to buy my first STR in the Orlando/ Winter Park Area in the next few months. Curious if anyone has had success (or failure) qualifying for RE Professional status with an STR, eve...
Jonathan C.
Will anybody be participating in the LA or San Bernardino county auctions in May?
Hey guys! I was wondering if anyone here will be participating in the auctions in either LA county or San Bernardino county in May. As a real estate newbie I would love to meet up with anyone going to one or more in o...