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Updated about 1 year ago on . Most recent reply presented by

Chelsea Schaefer's profile image
Chelsea Schaefer's profile image
Chelsea Schaefer
  • Member since Aug 4, 2023

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Chelsea Schaefer's profile image
Chelsea Schaefer's profile image
Chelsea Schaefer
  • Member since Aug 4, 2023
Chelsea Schaefer
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Tax, SDIRAs & Cost Segregation

CPA causing confusion on STR rules - HELP!

Chelsea Schaefer
Posted

Looking for advice - purchased first STR 2023 and we qualify for active income based on rule 3 of the material participation test. Current CPA says we can't take losses off of W-2 because W-2 income is greater than 240k. Is there a W-2 limit or is our CPA not knowledgeable on STR tax???

Oklahoma City, Oklahoma
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Alan Lacey's profile image
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Alan Lacey
  • Lender
  • from Grand Rapids, MI
  • Member since Jan 25, 2019

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Alan Lacey's profile image
Alan Lacey's profile image
Alan Lacey
  • Lender
  • from Grand Rapids, MI
  • Member since Jan 25, 2019
Alan Lacey
  • Lender
  • Grand Rapids, MI
82
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174
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Alan Lacey
  • Lender
  • Grand Rapids, MI
Replied

This cpa/real estate podcast has quite a bit of info on all the STR tax components

https://podcasts.apple.com/us/podcast/tax-smart-real-estate-...

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