Understand REPS and STR Loophole.

If your MAGI is over $150K, passive losses can’t offset W-2 or other income unless you qualify as a Real Estate Professional (REPS) or use the Short-Term Rental (STR) loophole.

I also know several people doing AirBnbs to get the short term rental loophole - are people really saving that much in taxes by doing STR? 

I am looking for a CPA that knows the STR Loophole and can help us with offsetting our W2 income and is taking new clients.

Clickbait headlines promising “easy refunds” or “loopholes everyone qualifies for” can lead people into real trouble with the IRS.Some things that are often misunderstood:STR (short-term rental) rules: People sometimes assume they can deduct every expense without limitation or ignore occupancy thresholds.

Many investors can find better returns putting that same money into deals.It’s not a tax loophole – It’s tax-deferred growth, not a magic “tax-free hack.”

., 100+ hours and more than anyone else), you may qualify for the STR loophole, allowing depreciation and losses to offset W-2 or active income, even without Real Estate Professional status.

This is just one of the loopholes and tips I enjoy offering to other BP members to help avoid lost time or money!  

There are plenty of accountants on here that are familiar with the STR loophole.

So does the book provide a loophole to the three property limitation to the “mortgage origination” rule (Dodd Frank)?