Utah Real Estate Q&A Discussion Forum

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Derek Schetselaar
  • Lender
  • Lehi, UT
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Schedule E Loss - What to Do?

Derek Schetselaar
  • Lender
  • Lehi, UT
Posted Jan 12 2022, 15:24

Hey BP,

Question for you guys. If anyone knows a good real estate focused CPA too. Let me know.

Looking at buying a duplex, (second property) and writing off the depreciation on the property

As this would result in a loss for the year, I want to see if I can deduct it against my w2 ordinary income.

https://www.biggerpockets.com/...

This article is helpful, but I can't find anywhere where it talks about what is included in a "Real Estate Professional." Does that only mean Real Estate Agent, or can a Mortgage Guy be included in that classification.

Thanks for the help!

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