IRS Requirements To Qualify As A Real Estate Professional скачать в хорошем качестве

IRS Requirements To Qualify As A Real Estate Professional

In this video podcast, tax attorney Anthony Diosdi discusses the intricacies of claiming losses from real estate, particularly focusing on rental properties. He talks about IRS requirements in order to qualify as a Real Estate Professional, and the necessity of meticulous record-keeping to substantiate such a status when filing tax returns. Takeaways: -Claiming losses from real estate is crucial for tax planning. -Depreciation is a mandatory deduction for rental properties. -Losses from rental properties cannot offset other income unless classified as a real estate professional. -To be a real estate professional, one must spend over 750 hours a year on rental activities. -Material participation requires at least 100 hours of involvement in property management. -Good record-keeping is essential to substantiate claims to the IRS. -Airbnb properties may not qualify for real estate professional status. -The IRS closely scrutinizes claims of real estate professional status. -Tax litigation often revolves around the classification of real estate professionals. -Consulting a tax attorney is advisable for complex situations. Chapters: 00:00 Tax Counsel with Anthony Diosdi 00:17 Claiming Losses from Rental Properties 03:27 IRS Qualification Requirements for Real Estate Professionals 04:58 Becoming a Real Estate Professional 10:05 sftaxcounsel.com Connect: Website: https://sftaxcounsel.com/ LinkedIn:   / anthony-v-diosdi   Subscribe to Channel:    / @taxcounselwithanthonydiosdi   Disclaimer: The information provided in this video podcast is for general educational purposes only and does not constitute legal or tax advice. Please consult with a licensed attorney in your jurisdiction regarding any legal matter or before making any decisions based on the information presented here. Watching this video or listening to this podcast does not create an attorney-client relationship between you and Anthony Diosdi. Use of this information is at your own risk. #realestateprofessional #realestate #rentalproperty #depreciation #rentalpropertymanagement #airbnb #taxattorney #tax #irs