The Tax Reform Act of 1986 gave us the seemingly oxymoronic concept of “passive activities”. Collecting interest and dividends is not a “passive activity” even thought interest and dividends are considered “passive income” in other areas of tax law, such as the sting tax on S Corporations. There has to be an activity, such as a trade or business, for you to not materially participate in, in order for you to have passive income or losses under Code Section 469.
Real estate professional status – becoming more important – very hard to prove
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Indiana senator explains his inquiries into reverse mortgages
Sen. Mike Braun offered insights into his recent letter to Ginnie Mae and the potential need for more scrutiny of the HECM and HMBS programs.