According to the material participation rules, you must spend 500 hours or more in activity with your property. You and your spouse can combine your hours.
The IRS is going to
One of the hottest real estate tax strategies is the Real Estate Professional. The IRS is on to this one, though, so make sure you follow the rules.
Real estate tax can be tricky. One of the first challenges is determining what kind of definition the IRS gives you. There are five terms you need to know.
The best of all worlds is when real estate creates a cash flow and you don’t have to pay any tax on the money. Not only that, there is a