I have a condo and am currently renting it out as a short term rental for about 275 days a year. I have a property management company.
- Are there any situations where short term rentals are not considered passive activities?
- With a short term rental, are there any situations where you are not required to be a real estate professional in order to avoid the $25,000 limitation on claiming losses?
- Would you explain this statement:
- If you do not actively manage your rental, losses are only allowed if there are profits from other passive activities.
