March 25, 2014

IRS challenge to Real estate Professional status

Under audit the IRS will often insist upon the taxpayer producing contemporaneous time logs to substantiate the time put into the rental activity. However, the regulations […]
March 25, 2014

What is the Real Estate Professionals exception?

Rental real estate activities performed by a real estate professional are not considered passive and therefore related losses cannot be used to offset passive gross income. […]