Latest / Tax Smart Real Estate Investors Podcast
REPS 02: How You Can Offset W-2 & Active Business Income by Qualifying as a Real Estate Professional
By default, rental losses are passive. They can only offset other passive income. Qualifying as a real estate professional allows you to take rental losses against W2 or active business income. Brandon and Thomas discuss how to qualify for the real estate professional status as well as material participation, two very important concepts to turn your losses nonpassive to offset your W2 or other active business income. If you haven't already listened to REPS 01, check it out first. This is the second episode in a four-part series. Get the REPS Time Log here…
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