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Updated 26 days ago on .
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Cost seg for Long term rental
My reported W-2 is 140K, Passive income from business is 120K. I and my husband has purchase 2 properties in 2024 and cost seg estimate is 90K for first year in 2024 (tax filling extended). My Husband can be qualified for REP in future if we acquire more properties (which is the plan). In future would it be beneficial to claim depreciation as passive loss against passive income or against w-2 (as spouse REP)? How does it work If I have w-2 and passive income to off set depreciation from long term rentals?