Real Estate Professinal Status
does being designated as a real estate professional change the ability to write off losses from other non passive income which exceeds 150,000? Does simply managing the property qualify ?
A real estate professional can treat passive losses as active losses, removing the $25K passive loss allowance restriction.
Managing your own rental property does not qualify. There are rules governing the "real estate professional" designation, which essentially require you to spend the majority of your time in an ACTIVE income real estate related business.