327: Real Estate and Taxes: What You Need to Know!
Wealth Formula by Buck Joffrey
What Is the Passive Activity Loss?
The rules say that all rental activities are passive, unless you qualify as a real estate professional. So the question becomes, for a a well, spending 750 hours and more time in real property trades or businesses than anywhere else is not good enough to be considered an 'real estate professional' But short term rentals come into their own when they have average period of customer use of seven days or less. That's where i can cost segregate it, bonus depreciate it, create a large tax loss, and i can use that tax loss to offset my c p a firm income - even if i'm working full time at those jobs.
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