Congratulations!

You may be in an excellent position to benefit from the GO Zone by qualifying whomever is working less than 20 Hrs a week as a real estate professional.

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If you are participating in real estate, then you (like most individuals) likely spend more time than you think hunting across the Internet for properties, talking to brokers, attorneys, accountants, etc, as well as any time with that you may spend on your specific property.  Once you really start tracking your hours, you may be surprised and can readily cross the threshold for real estate professional.  That would allow you to deduct Bonus Depreciation for your current active income….. that could be a huge savings for you!

Also, if you have any other passive income (like other rentals), you can use this to your advantage as well.

Even if you have a tax advisor, we strongly suggest that you talk to someone who really understands the GO Zone.

Please Note:  This is not TAX advise.  Please consult your tax advisor with your specific situation.