Do You Qualify? - Real Estate Professional
Congratulations! Based on your selection, you are in the best category to take advantage of GO Zone Benefits — Real Estate Professional.
Specifically, if you structure your activities correctly, then you can deduct Bonus Depreciation losses from your ACTIVE income. You will have to meet some material participation tests, but this is typically not too difficult to do.
We strongly suggest you consult your tax advisor to get started. This could dramatically reduce your taxes not only for this year, but you could possibly recover taxes paid in for the last 5 years as well as have losses to offset income for the next 15 years.