All Forum Posts by: Dennis McHugh

 I thought If the 10-year holding period is satisfied, all appreciation in the QOF, including any depreciation recapture, is eligible for tax-free treatment.

Thank you for the replies. Yes, this strategy is an attempt to lower my wife’s taxable income. That’s why I thought you had to become a real estate professional to do that. Based on BiggerPockets podcasts, the current loophole is to get your 100 hours in short-term rentals and then turn it into a long-term rental the following year after you have cashed in on the 60% bonus depreciation and used it against my wife’s income.

Hello,

I have a question about a strategy. Can you buy a house in an "Opportunity zone", rent it short term for the rest of the year. Get 100 hours of participation to become a real estate professional. Bonus depreciate it at 60% minus 25% for the land. Then the following year rent it long term for 10 years and sell it for no bonus depreciation recapture? "Because if you hold a property in a opportunity zone for 10 years you don't have to pay your bonus depreciation back? Would that work or no?

Hello, I live in the Detroit metro area of Michigan. I'm looking to buy my first rental property. I'm having trouble finding good real estate groups out here. Does anyone know of any? (area code 48103 I heard this helps with search's)