How to Best Utilize Passive Losses w/ Brandon Hall
The Wealth Elevator Podcast: Real Estate, Taxes, Investing · The Wealth Elevator Podcast
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Show Notes
Summary: In this podcast you will learn how to best utilize your passive losses.
Accredited Investors
How you can re-characterize your passive losses as non-passive so you can offset your other non-passive income from your day job. One of the ways to do this is to achieve Real Estate Professional status. Currently the requirements are that you must:
1. Spend 750 personal service hours in a real property trade or business (ex. GP in a deal or actively manage real estate properties),
2. Spend more than 50% of your time in real estate than anywhere else (this typically kicks out the W2 workers),
3. Materially participate in your rental portfolio.
Non-accredited Investors
If you make less than $100,000 you are allowed up to $25,000 in passive losses, once you make above $100,000 those passive losses will start to phase out $1 for every $2 above $100,000. For example if you make $110,000 you will only be allowed up to $20,000 passive losses. After $150,000 of adjusted gross income (AGI), your passive losses will be totally phased out. There are some ways to work around this, such as investing into your 401k so you can drop your AGI.
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