Realtor owns 2 rental properties generating loss. Husband also has self-rental property (p'ship) generating income from rent to his repair store. Regulations characterize self rental as nonpassive so that's no help. They are over the income limit to deduct nonpassive rental income.
Can the realtor qualify as a real estate professional (she's definitely FT & also works on their rental properties)?
Can the realtor qualify as a real estate professional (she's definitely FT & also works on their rental properties)?