Investor · Park Rapids, MN · Member since 2016 · 8 posts · 0 votes
What are the advantages of filing my taxes and claiming I'm a real estate professional? I have 45 rental units, and this is my second business. I'm trying to figure out the advantages or disadvantages. My main career is insurance... I own an agency that I have basically been using to get a jump start into investing. Any advice is greatly appreciated.
Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
9y
You won't qualify if you have a full time job. You have to be able to document and prove that you spend more time in real estate than you do in your primary job.