Bonus depreciation for STR Material Participation

[John Carbone]

Has anyone filed taxes yet as a W-2 employee who owns only STR, rents for on average less than 7 days per rental (STR), and materially participates (usually requires 100 hours or more in a year and more than anyone else)

I’ve heard there are amazing tax benefits if you fall under all of the categories. My understanding is you do not need to pass the “real estate professional test” for this.

This seems like a big loophole for STR investors. Does anyone have experience going through this?

[John Underwood]

My STR and LTR's are all schedule E.
Unless you are cooking them breakfast or offering daily cleaning with a turndown service you will be on a schedule E.