REPS 05: What is the Real Downside to Grouping All of Your Rentals as One Activity for REPS?
Вставка
- Опубліковано 15 лют 2022
- In this episode, Brandon and Thomas clarify the potential downsides of making the -9 grouping election to treat all your rental activities as one for real estate professionals - and why it might not be as bad as you think.
-
Here are 3 ways to get involved:
1: JOIN OUR FACEBOOK GROUP
/ taxsmartinvestors
If you haven't joined the Tax Smart Real Estate Investors Facebook community, you need to jump on it ASAP! You'll get details on exclusive Live Q&As that I'm doing, updates on everything tax and accounting, and early access to events and content.
2: FREE TRIAL OF OUR NEWSLETTER
hubs.ly/H0-r1Tf0
Interested in getting our premium Tax Strategy Newsletter every Tuesday? It breaks down the nuances of real estate investor taxation in an easy-to-read manner and contains investor tools and presentations.
3: WORK WITH US
hubs.ly/H0-r1Tf0
Interested in working with our accounting firm at The Real Estate CPA? We are a boutique CPA firm providing advisory, tax, and accounting services to real estate investors and business owners across the U.S.
Let's connect:
Facebook: / realestatecpa
LinkedIn: / brandonha. .
Twitter: / therecpa
Podcast: www.therealestatecpa.com/podc...
Website: www.therealestatecpa.com/
Subscribe to our Tax Smart Investors Newsletter for exclusive content and tax updates: share.hsforms.com/15hwWMEKzTB... - Розваги
I understand you can take all losses on property being sold, and losses on other properties that occurred in the PRESENT year, therefore you can anticipate purchases and projects on other rentals in the year you sell.
great video. very useful, thanks for providing quality content. In the example you mentioned around @7:16, the sale results in a net passive loss of $10K. you mentioned it can offset the W2 income even if I am not a real estate professional. is that correct? I thought we can offset passive losses against W2 income only if we are a REP. can you pls clarify. thanks.
If I elect to group my rental activity, do I need to reports each unit separately on form schedule E or can I lump them all together?
How do I contact you?
www.TheRealEstateCPA.com
hello,
how can i talk to you in person? i have 6 houses & my cpa is filling my tax 2021 & said i have gains instead of losses. how can i use rep status to pay less income taxes? i have lots of ? & would like to speak to tax cpa in person. do you also file taxes for clients in another state.
Hi Hung, you can join a Live Q&A or request a paid consult by signing up for a trial to our Insiders group using the link below:
www.taxsmartinvestors.com/home53276259
Come on guys your show is great but stop talking about CPAs like they’re really stupid I mean really they’re not gonna pick up the passive losses. How rare is that?