Illni
Level 4
02-26-2021
11:00 AM
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Isn't the main objective of real estate professional is to eliminate PAL limitiations? I have a huband and wife partnership and she is a RE professional, but he is not. However, my understanding is the spouse of a RE professional qualifes automaticall with the RE professional spouse. I noticed Lacerte will not allow the "non-RE professional" spouse's loss on the 1040 (due to income limitations) unless I check the box that he is a RE professional too. Anyone out there doing that on their "mixed marriage partnerships"?