Don’t Get Burned Claiming Real Estate Professional Status (REPS) You Don’t Deserve

[Editor’s Note: Mark your calendars now for a special event that’s happening tomorrow evening (September 20 at 7pm MT) with Dr. Jim Dahle. With the release of our new No Hype Real Estate Investing course, WCI is hosting a free webinar where you’ll learn the pros and cons of real estate investing, the power and risks of leverage, and the next steps you can take. Make sure to register today for the No Hype Real Estate Investing webinar, and figure out if real estate investing is right for you and your investing plan!]

 

By Dr. James M. Dahle, WCI Founder

Lots of high-income professionals involved in direct real estate investing get really excited when they learn about qualifying themselves or their spouse as a real estate professional. The general presumption by the IRS is that real estate rental activities are passive, and passive losses cannot be used against active income, i.e. the income from your W-2 job. However, if you (or your spouse if you file jointly) qualify for…

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This article was written by The White Coat Investor and originally published on www.whitecoatinvestor.com