Reale Estate Treks » Fica Taxes http://realestatetreks.com Home Buying Treks Thu, 24 May 2012 16:25:06 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 If I claim to be a real estate professional for tax purposes, is my income subject to FICA? http://realestatetreks.com/if-i-claim-to-be-a-real-estate-professional-for-tax-purposes-is-my-income-subject-to-fica/ http://realestatetreks.com/if-i-claim-to-be-a-real-estate-professional-for-tax-purposes-is-my-income-subject-to-fica/#comments Fri, 12 Dec 2008 08:26:51 +0000 Home Buying Treks http://realestatetreks.com/if-i-claim-to-be-a-real-estate-professional-for-tax-purposes-is-my-income-subject-to-fica/66/
capn bob asked:


I qualify as a real estate professional for tax purposes. I own and manage over 25 rental properties. I have not claimed that status in the past. I have recently married and my husband has retirement and investment income in excess of the maximum income amount allowed under the passive activity rules. If I make a profit from my investments, am I subject to FICA taxes on that income? Is there a downside to claiming real estate professional status?

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