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Deductions & credits
That's where I started this thread confused - I check both boxes to qualify as an RE professional (hours and percent) but it doesn't change my taxes at all. We are over the income limit for the $25k deduction.
Courtesy of Nolo: "landlords who qualify as real estate professionals may deduct any amount of losses from their other non-passive income."
So why would that election have no impact on my taxes?
‎September 12, 2021
11:56 AM