as with all tax matters, it depends! The passive losses can offset all the passive income (rents). Then some leftover can write off active income up to a max amount. If someone is a real estate professional, the losses against active income are unlimited, which includes the W2 income of a partner filing jointly. It is a powerful partnership!
Amen! Here's our training on the power of reaching real estate professional status (per the IRS): www.commercialpropertyadvisors.com/real-estate-professional-status/
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Hi Peter,
I am the luckiest guy to have you.
Thank you
Video is very informative. Thank you Peter
Can you please do a video on how you structure your LLCs or trusts?
Great info. Thank you very much!
Thank you Mr. Peter.
This was a perfect video!
Depreciation can’t offset W2 income. One is passive income and the other is active
as with all tax matters, it depends! The passive losses can offset all the passive income (rents). Then some leftover can write off active income up to a max amount. If someone is a real estate professional, the losses against active income are unlimited, which includes the W2 income of a partner filing jointly. It is a powerful partnership!
Amen! Here's our training on the power of reaching real estate professional status (per the IRS): www.commercialpropertyadvisors.com/real-estate-professional-status/
Will the depreciation be for each property or is there a limit?
How much will they let you write off on a single family home?
Is it possible to buy a bank as an investment?