USA Real estate professional designation to offset ordinary income


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Hello!

First post in this forum. I was hoping I could get some input from people who successfully offset their ordinary income (W2, 1099, etc.) with losses from real estate (i.e. depreciation). It seems like a very effective but tricky tax strategy.

Thanks
 
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BIG E

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I suggest you review the Passive Activity Loss rules.
There are very strict rules in the offsetting of PALs against ordinary income.
Yes - there are special rules dealing with real estate professionals including the definition of what constitutes a real estate professional.
 

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