All Forum Posts by: Vince Liu

Thanks @Ashish Acharya - yes I meant $10,000 net rental income. From my understanding the most applicable two rules are 1) you have to have less than $150K AGI or 2) you have to be a real estate professional 

For rule 2) - will I be qualify if I take the test and get my realtor license? do I have to make a living as a realtor?  

Hi Tax Experts,

I learned in a article that you can actually use the loss created by your real estate investments (of course it's not realized loss) to offset your W-2 wages and other income.  Is that true? Is there certain limitations?

i.e. if you have net income of $10,000 for the year and your desperation based on a 27.5 year of ($15,000) then you technically have a ($5,000) loss

Thanks in advance!

Hi All - please DM me if you have extra BPCON2021 tickets for sale. Thank you!