Real Estate Professional Status
I am a stay-at-home mom taking of two kids and hubby is a high W2 income earner (we are in the highest tax bracket). While searching for the tax optimizing strategy, the real estate professional status seems attractive. I did read through some articles about REPS including this one: https://www.therealestatecpa.c...
When it comes to implementation, any advice on how to start if we are planning to claim my REPS for 2023 or 2024? Especially, what type of properties will be ideal for me to qualify for the 750-hour real estate activity? I am not very handy but I am good at researching, analyzing and coordinating.
Thank you!