Written by: on , Information Verified by a CPA.

I Have Passive Income. Will Qualifying as a Real Estate Professional Help Me? [Tax Smart Daily 029]

1 Min read

Topics

Table Of Contents

    The rental loss will be regarded as non-passive if the rental activity is passive and you qualify as a real estate professional and materially participate in the rental activity.

    Every year, you will be able to claim the tax losses that your rental generates.

    But what if there aren't any rental losses? Let's find out in this video.

    Listen in to learn:

    • Why it is beneficial to qualify as a real estate professional if you have passive income
    • How a real estate professional status can help you if don't have rental losses
    • Why you should track towards the real estate professional status early in the year if you have a rental portfolio

    Subscribe to The Tax Smart Real Estate Investors YouTube channel for more answers to real estate tax questions!

    Recent Articles

    ★★★★★

    Hall CPA PLLC, real estate CPAs and advisors, helped me save $37,818 on taxes by recommending and assisting with a cost segregation study. With strategic multifamily rehab and the $2,500 de minimus safe harbor plus cost segregation, taxes on my real estate have been non-existent for a few years (and that includes offsetting large capital gains from the sale of property).

    Mike Dymski - Business Owner