A few Investment Real Estate Tax Tips

All of these tax tips are current and in effect at the time of this writing. However, as with all matters tax-related, verify with your tax advisor before attempting to use them – you know how Washington loves to tinker with things.

• In order to claim many of the tax benefits associated with owning investment real estate, you must be actively involved in the property's management. Actively involved – according to the IRS – means that you set the rents, approve tenants, and decide on capital improvements. It doesn't mean that you can't hire management help; it simply denotes that you must remain in control.

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