Forbes Tax Article: Who Is A Real Estate Professional

Tony Nitti (Tax Partner in WithumSmith+Brown?s National Tax Service
Group and the founding father of the firm's Aspen, Colorado office. A
CPA licensed in Colorado and New Jersey, with a Masters in Taxation from
the University of Denver.) has published a must read for those of you
who are trying to decode the passive activity rules to determine who is
a real estate professional. This impacts both the rental activity loss
limitation rules and the 3.8% net investment income tax. Please see:
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Reply to
Alan
Thank you Alan, I've just added this article to my collection (there is a "Print" icon way at the bottom). This same guy also wrote a really good article in Forbes about the NII tax in the last half year.
I took a little consolation in his summary where he observes that this stuff is not easy for anyone to understand, not the judges, not the big firms, not the IRS.
Reply to
Mark Bole
He wrote a thorough analysis in 4 parts:
Overview Of The New 3.8% Investment Income Tax, Part 1
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Overview Of The New 3.8% Investment Income Tax, Part 2: Passive Activities
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Overview Of The New 3.8% Investment Income Tax, Part 3: Property Gains
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Overview Of The New 3.8% Investment Income Tax, Part 4: Rental Income And The Real Estate Professional
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Reply to
Alan
....
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=========== Forbes is not a valid, trusted source of tax information. I have seen them "get it wrong" more often than correct.
Example: My own 2003 USTC Memo decision.
Reply to
D. Stussy
based on my own research, it seems the Nitti articles on real estate professional rules are well done.
Where is the link to the "wrong" Forbes article you refer to?
Reply to
Pico Rico
based on my own research, it seems the Nitti articles on real estate professional rules are well done.
Where is the link to the "wrong" Forbes article you refer to?
================My rebuttal to two articles (one Forbes, one other) is at:
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Reply to
D. Stussy

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