Cindy4
Employee Tax Expert

Get your taxes done using TurboTax

Hi @Sylvia999 !

The benefit of being a Real Estate Professional regarding rentals is that you claim the losses against other income and take advantage of the home office deduction.  You may also avoid the Net Investment income tax.

 

Here is a really good discussion on the topic:

https://www.taxaudit.com/tax-audit-blog/irs-definition-of-real-estate-professional-tax-status

 

Hope this helps!

Cindy

 

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