Colby Wherry
Material Participation STR for Tax Purposes
Hello,I have read the requirements to qualify for material participation on an STR, but I only see info on hours/ work preformed. Are there stipulations on having a full time job, or a threshold of how much income you...
Jordan Meyer
Income Tax write off maximum is $10k?
Hello,
So I recently found out that you can only write off $10k from local and state income tax. Does this mean I cannot write off depreciation + property tax + mortgage interest more than $10k?Thanks in advance for ...
Ryan Tyree
Help understanding a LP K-1 net loss
I invested in 7 syndication funds in 2023 as a limited partner with the expectation that I would generate first year losses from cost segregation that I could use to offset my gains on my personal real estate investme...
Scott Trench
REPS And Active Losses and Gains
Hi tax pros - I have a question about REPS status.First, selfishly, do you believe that my job as CEO of BiggerPockets, which I spend obviously spend essentially all working hours on, and dwarfs activities involving m...
Devin Keener
How does the $150k AGI rule work for real estate tax deductions against w-2 income?
I'm new to real estate investing and own one rental and a primary residence. I recently found out about the separation between passive and active incomes and that there are rules about crossing the line on how you can...
Julie Washburn
Issue with CPA understanding Real Estate Professional
I am a Real Estate Professional, but I seem to be having trouble with my CPA understanding how to account for this. 2022 was my first year as a Real Estate Professional. My husband has a W-2 job with a large amount of...
Zulu Black
Rental Property Deduction Limit
Hello All,This year, in July I started to enter the realm of real estate investing by renting out my SFH for $4k/month. I also have a full-time engineering job. I understand an individual may deduct up to $25,000 of r...
Irving Franco
Offsetting 401k withdrawal taxes
Is away to offset the income tax on a 401k withdrawal that will be used to purchase investment real estate. I know I can move the money into a self directed IRA and going that route, but I’m curious if you can take a...
Dan Rudolph
Tax Deductible Investing
My W2 income over the next 3 years is going to be significantly higher than normal. Is there any way to avoid paying a high personal income tax rate on this income? I understand that if I am a "Real Estate Professio...
Franklin Lee
Unlimited tax deductions back in the days...
I heard from my dad that back 15 years ago when he was an active investor managing a rental business, he was allowed to take unlimited tax deductions...is this true?
Now, I know that you can ...