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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Kristen Sieffert leads the reverse mortgage presence at The Gathering
FOA’s president spoke about bringing reverse mortgages into the mainstream at the event in Scottsdale, Arizona.