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Investors & landlords
@Carl great answer.... you actually answered a few questions I was going to ask about how RE losses get carried forward.
Good advise - I'll pass on trying to deduct my exploratory trip.
I do believe I qualify as a real estate professional b/c I am the contractor who is DIY'ing my rental properties. I'm easily putting in 35+ hours a week. From what I read in an IRS Publication, contractors / Rehaber's count as R/E professionals. I don't think it matters in this case b/c I'm not going to deduct the exploratory trip which could easily be misconstrued as a vacation.
‎October 20, 2019
7:28 AM