real estate professional


Court Says Mortgage Broker Not a Real Estate Professional

The passive activity loss rules can prevent real estate investors from being able to deduct their real estate losses.  That is the intent and purpose of the rules.  The rules and how they have been interpreted draw some known but …..

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Material Participation Must Always Be Documented

The IRS frequently argues that losses are limited by the passive activity loss rules. This often turns on whether the taxpayer materially participated in the business or rental activity. The Hailstock v. Commissioner case shows that the IRS expects taxpayers to document their participation even when it seems clear that the tests are met. The[…]

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