Real Estate Professional Status: How Rental Property Owners Qualify and Deduct Losses

Real estate professional status can allow rental real estate losses to become nonpassive, but the rules require more than simply working 750 hours in real estate. Learn how the 750 hour and more than 50 percent tests work, how spouse hours and material participation are treated, when rental properties can be combined, and what the Tax Court decision in Mirch v. Commissioner teaches about documenting participation.