What are the general tests for material participation? This question comes up all the time. As tax professionals, we want to get the word out for those considering a real estate professional designation.

Ok. Here we ...

Hello BP fam, I bought my first real property in Oct. 2014, am I able to claim deprecation for this time.  I have read some places that have said you can not claim depreciation during your first and last year of owner...

I know STR income is treated as active by IRS (like a hotel) and I have S Corp. My accountant used form 8825 (rental real estate income for S Corp). Is this correct? I would have thought it should appear in a differen...

Hello everyone!  I know the criteria to be a RE Professional is 750 hours in RE and more hours in RE than any other job.  My accountant told me that I need to spend 750 hours PER PROPERTY which does not make sense.  H...

I haven't seen anybody write specifically about this before. After looking at hundreds of thousands of dollars in suspended passive losses, I'm planning to provide substantial services on my next house hack. This soun...

I purchased a property this week and immediately advertised it for rent.

I am showing the unit to a prospective tenant today, but we have not yet discussed a lease date. Have I now met the requirement of making t...

I am beginning to prepare for filing my taxes.  I have not kept a good record of my hours. I have a full time job, but I feel like I've easily surpassed the 750 hour mark on my rentals and I probably have more like 10...

Hello! I know there are a lot of topics on whether to report Airbnb income on schedule e or c but it still seems like a grey area still. Most resources say Schedule E however other resources say that if the average re...

Sorry for the Tarzan title, but I think it covers the bases. So I’m a W2 wage earner in the 33% tax bracket and my wife, who has no income, logged 750 hours on our rental house last year to qualify as a real estate pr...

Real Estate rental income is earned when a real estate is leased for rental income generation. Rental income generally is treated as unearned or passive income for income tax purposes. Rental income is reported on Sch...