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Tax, SDIRAs & Cost Segregation

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James Parla
  • Contractor
  • Central, CT
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9
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I'm in construction, am I "real estate professional"?

James Parla
  • Contractor
  • Central, CT
Posted Nov 18 2022, 17:32

Hey all, this is my first time posting on bigger pockets, hope I'm doing this right. I've been learning about real estate for over a year now and bought my first LTR in February. I'm under contract right now for a second single family house that will be a BRRRR. After listening to the last podcast 689 I wanted to ask the question of am I considered a real estate professional? I have my own construction business so I receive 1099s. I frame new construction homes and after listening to the podcast I thought hey maybe I'll qualify and then be able to run a cost segregation study on one if not both of the properties and then take that deprecation/loss against my 1099 income. Any help would be great. Thanks everyone

I posted this in a different forum and then thought this may be a better spot, thanks again

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