Are you sure that is correct? I thought that real estate expenses can only be used against real estate earnings unless they are considered an RE professional. He stated he hasn't earned any commission yet.
Real Estate Professional Test. To qualify as a real estate professional, a taxpayer must satisfy the following tests: Perform more than 50% of services in real property trades or businesses (“50% test”), and. Perform more than 750 hours of service in real property trades or businesses (“750 hours test”)
