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Real Estate Professional-Investment Tax Benefits
Posted on 5/31/13 at 7:50 am
Posted on 5/31/13 at 7:50 am
Could someone who is a Real Estate Professional and a real estate investor please explain how advantageous the tax benefits are-specifically in offsetting W-2 income? Thanks in advance.
4
Posted on 5/31/13 at 7:57 am to Trophy Husband
More specifically, what kind of real estate investment? Rental properties or what?
Posted on 5/31/13 at 7:59 am to Trophy Husband
you can deduct almost every expense related to the rental property as well as depreciation and other things.
I have one friend whose rental property brings down he and his wife's overall effective tax rate to around 5%
I have one friend whose rental property brings down he and his wife's overall effective tax rate to around 5%
Posted on 5/31/13 at 8:08 am to Trophy Husband
The real estate professional designation is an election made on the tax return. The election allows you to deduct more than the 25,000 passive loss limitation.
You better make damn sure you meet the qualifications to be considered a real estate professional.
You better make damn sure you meet the qualifications to be considered a real estate professional.
Posted on 5/31/13 at 10:21 am to Trophy Husband
1031 tax exchange.
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