Steffen Vater
Benefiting from passive loss/cost seg without real-estate professional status
So I just found out that the loss ($9,500) I showed from last year's real estate syndication investment ($25k) was useless on my return due to the fact that the IRS disallows the use of this passive loss if AGI is >...
Emma Alden
Claiming prior passive losses now that we have reached REPS status
We had a 50K passive loss in 2021. In 2022 we acquired more properties and my husband now qualifies as a real estate professional. We are above the income limits to claim the loss but I thought we could count that car...
Isaiah Tademy
Real Estate Professional Status & Taking Losses Against Full Time Income
Hello BP Community,I'm a bit stumped. I've talked to several investors and my CPA and am getting different answers. I am a full time insurance agent with a relatively high income, and my wife got her real estate licen...
Chris Haas
Does getting licensed affect your earned income versus passive income status?
If I would get licensed primarily to get access to the mls, and in general gain that knowledge, does that adversely affect my tax status.
I have no intention on quitting my day job, so if I get licensed, buy ...
Scott J.
First time buyer status gone if I own an investment property?
Hello all,So I'm in a bit of a dilemma here. There's a property for sale at a good price that I think would be a good opportunity to start the REI journey with. I also want to buy a house to live in for myself and tak...
Samson Kay
Has anyone ever leveraged someone else's first time home buyers status?
Is it possible to partner up with a first time home buyer with no money to buy a quadplex? What are the loan and legal implications?
I assume that some sort of LLC or partnership deal would need to happen fir...
Alfredo Cardenas
Reps Status (via wife) & Material Participation to offset W-2
Hello, Anyone has experience using REPS status via their wife or husband to offset W-2? MY 2024 W-2 will be more than $300K and this year (2024) I married a real state agent. I have been reading a lot and educating m...
Kip Cline
Should I be a real estate professional status for tax purposes?
What are the downsides of electing to be treated as a real estate professional for taxes? Would this make my real estate rental income become active income instead of passive? Is this taxed differently? I do not have ...
Chris B.
My current status: 3 rental properties... Am I doing it right?
This question is for experienced investors... Am I investing correctly? Or should I change strategies? I am buying the worst houses in good areas and fixing them up and renting them out. The below numbers I am not i...
Timothy Solomon
REPS status for wife (to avoid taxes associated with sale of biz)
I am about to sell my business and make a substantial amount of income from it. Does anyone have any experience with getting REPS status and immediately investing the money in real estate from the sale proceeds to avo...