Re Investor
“I own multiple rental properties that generate massive passive losses, can I use those losses to offset my W-2 salary if I qualify as a real estate professional?”
Whether rental losses can offset W-2 wages often depends on how the rental activity is classified, whether the real estate professional tests are met, and how materially the properties are managed during the year. The answer also commonly turns on whether the losses are treated as passive or nonpassive, whether there is sufficient participation in the rental operations, and how the records support time spent on the activity. In many cases, the number of properties, the type of rental income, and the taxpayer’s overall facts can change the result. Going through your records with a CPA usually surfaces the answer in under an hour.
In your 60-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I flipped a severely distressed house in less than a year, will my massive profits be taxed as ordinary income or short-term capital gains?”
“I am selling a highly profitable rental property and want to use a 1031 exchange, exactly how long do I have to officially identify a replacement property?”
“I successfully refinanced my investment property and pulled out cash to buy another one, is that massive cash out legally considered taxable income?”
“I regularly rent out a spare room in my house on Airbnb, how do I accurately report the income and what specific household expenses can I legally deduct?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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