:

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:
formatting link
/
Or
formatting link
--
Alan 
http://taxtopics.net
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.
--
Mark Bole, EA 
Enrolled Agents - America's Tax Experts 
 Click to see the full signature
Reply to
Mark Bole
He wrote a thorough analysis in 4 parts:
Overview Of The New 3.8% Investment Income Tax, Part 1
formatting link
/
Overview Of The New 3.8% Investment Income Tax, Part 2: Passive Activities
formatting link
/
Overview Of The New 3.8% Investment Income Tax, Part 3: Property Gains
formatting link
/
Overview Of The New 3.8% Investment Income Tax, Part 4: Rental Income And The Real Estate Professional
formatting link
/
--
Alan 
http://taxtopics.net
Reply to
Alan
....
formatting link
/ ============
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.
--
> 
> 
 Click to see the full signature
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?
--
> 
> 
 Click to see the full signature
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:
formatting link
--
> 
> 
 Click to see the full signature
Reply to
D. Stussy

have there been any decisions on these issues since you got gypped?
--
> 
> 
 Click to see the full signature
Reply to
Pico Rico

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.