Qualifying as a Real Estate Professional and Deducting Passive Losses

Qualifying as a Real Estate Professional and Deducting Passive Losses

Deducting Passive Losses A taxpayer can overcome the presumption that all rental activities are passive if the taxpayer qualifies as a real estate professional by satisfying the two tests of Sec. 469(c)(7)(B): More than one-half of the personal services performed in trades or businesses by you during the tax year are performed in real property…
Read more