Hi everyone, Looking for some guidance on REPS qualification. Background: I have 3 STRs and one LTR (3-unit MF owned 50/50 with a partner). The LTR was placed in service in 2025 and we used standard MACRS depreciation since I did not qualify for REPS in 2025. I’m considering a cost seg in 2026 if I qualify for REPS. Question: Can hours spent actively managing/operating my 3 STRs count toward the 750-hour REPS requirement, along with hours from the LTR? I understand that STRs with an average guest stay of 7 days or less are generally not considered “rental activities” under §469, and they can potentially be nonpassive through material participation without REPS. Does that mean those STR hours cannot count toward the 750-hour REPS test, or can STR + LTR real estate hours be combined for purposes of qualifying for REPS? Would appreciate thoughts from anyone who has dealt with this.

Most taxpayers have no idea this opportunity even exists. If you paid the IRS interest or penalties for filing late during the COVID disaster period (generally January 2020 through July 10, 2023), you may be eligible to request a refund under the recent IRS settlement! For some Taxpayers, this could be thousands of dollars. Here's what I would do: ✅ Log into your IRS Online Account. ✅ Pull your "Account" Transcripts (not your Wage & Income or Tax Return Transcripts). ✅ Review each year (2020-2023) for any interest or penalty assessments. ✅ If you qualify, submit the required Form 843 claim online here before the deadline on Friday 7/10. This isn't automatic. The IRS isn't sending checks unless you request them.

Our kids had unearned income more than $1350 (dividends, short and long term capital gains). Since they need to file a tax return, what is the better approach? A) to file an extension for them and include them in our (parents) filing with form 8814? or B) just separately file it now? @Ryan Bakke, CPA @Mason Kimball, CPA @Kevin Medina, CPA, MBA

I just paid my real estate property taxes to take advantage of the 4% early payment discount (deadline is 11/30 in many counties). If you own real estate property, this is a good time to double-check your tax notice and see if your county offers a similar early-pay discount. It’s an easy way to save money with zero extra work.