Let's say I partner with a couple of investors and we purchase a multifamily unit and plan to manage it ourselves. WE each log in our 750 hours to qualify as REP status. IN that situation can we all get a share of the "bonus depreciation" from the property and be able to off set our W2 income ? Thanks.

Hey yall sorry for the late notice but we decided to give the team the day off today after working really hard to the 4/15 deadline. If you have some tax strategy related questions post them in this thread and will try to get to them.

What pre-work activities for a specific deal prior to closing count towards your material participation hours? Also, is there a tool you would recommend to track that?

Hey team, I own two STRs that I actively manage. What is the best way to defensibly expense real estate mastermind fees? Are there important book keeping and entity structure considerations that affect the defensibility of the expense in the case of an audit? In my specific case, I’m looking at joining a mastermind that involves education, coaching, and hands on support analyzing real estate deals, operations, and networking opportunities. The mastermind is definitely real estate investing acquisitions and operations focussed, however it is not strictly related to the short term rental asset class. Is there any complication there with the mastermind involving expansion to a new asset class within real estate investing? My entity structure is such that each of the two MI based STRs is owned by a separate MI LLC. I also have a Wyoming holding company. ChatGPT recommended using the holding company to pay for broader real estate investing mastermind fees. A CPA friend recommended against doing that and recommended using one of the two MI LLCs that holds an STR expense the mastermind fee against. I want to make sure I’m doing it legitimately and as cleanly as possible. Thanks!

Hey, This is my second year with the group. Last year, I thought I saw a post/video that gave instructions on how to fill out a 1099. Does that still exist? If so, could someone share the link? Thanks!