Donald F.
Can multiple partners use depreciation to offset active income?
If my brother and I hypothetically invested in an income producing property together, would only one of us be able to claim material participation in order to allow us to use bonus depreciation to offset our active in...
Pretty Khare
STR tax loophole with a 2nd home loan
If I buy a vacation home using a 2nd home loan and rent it as an AirBNB when I am not using it, can I still do a cost segregation study to accelerate depreciation and offset losses against my W2 income if I follow the...
Bobby Clifford
Real estate professional
Hello, I was curious if it would be beneficial for me to make efforts to qualify as a real estate professional for tax purposes. I am currently a stay at home dad but have the option to return to work at my previous p...
Vikranth Biradar
Accelerated bonus depreciation for short term rental
Hi all, I am looking for some expertise from STR landlords or accountants. I currently have W-2 earnings and realize that I can buy a STR, spend 100 hours fixing it up and staging it, and perhaps manage to get a few g...
Dennis McHugh
Real estate professional tax question
Hello,I have a question about a strategy. Can you buy a house in an "Opportunity zone", rent it short term for the rest of the year. Get 100 hours of participation to become a real estate professional. Bonus depreciat...
Mike Akerly
What is the market rate for a fee for agreeing to co-sign?
I'm evaluating an opportunity to participate in a small development project by co-signing on a construction loan. The construction loan proceeds will be used to take out the existing debt on the land and to build the...
Joel Oh
I am hearing STR doesn't count toward REPS status.
Hello guys! I have a good W2 income as well as STR income.
2023 is the first year I thought I could qualify for RE status as I am working as the property manager, handyman... (750+ hours) man I worked hard!
Just fi...
Gary Parilis
short-term loan from 401k for rehab
I'm investigating various options for short-term cash for rehabs. A loan for 401k looks like a good option. Any gotchas to worry about? Below are the rates charged in one of my accounts (Fidelity). As I understand it,...
Marc Lock
Claiming RE Professional Status as a W-2 Employee
I know this is a difficult claim and has been posted before but I haven't seen any posts with the following specifics:
Taxpayer (aka TP) is a W-2 employee for real estate company that develops and owns/operates mostl...
Dale Osborn
MLS Access
@J Scott had some questions concerning this on another thread. Did a search on the internet and found a memo from NAR concerning this issue. Seems like there were court decisions in numerous states. I was a licensed a...