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S
SVBertha
June 3, 2019
Question

Can we claim my carpenter/husband as a real estate professional if he managed our rental property as his only full time job - even if we lost money on the rental?

  • June 3, 2019
  • 1 reply
  • 0 views
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1 reply

Z
Zbucklyo
Employee
June 3, 2019

Perhaps, as long as he meets the requirements to be considered as such.  Also, be prepared for an audit, as this is one of the most heavily audited areas, especially if he has other income.

I assume you are doing this because either the property lost more than $25,000 or your adjusted gross income is over $100,000 so you are required to defer some of the tax benefits.

S
SVBerthaAuthor
June 3, 2019
with repair costs we lost just over 25,000 and I made more than $100,000- he did not earn an income this year
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