MAIN SECTION: STR Tax Loophole Crash Course: Part 3

Summary

This video continues the discussion on the Short-Term Rental (STR) tax loophole, focusing on Real Estate Professional (REP) status as a key element. It explains the time requirements and restrictions involved in achieving REP status and highlights the importance of meticulous documentation in case of an IRS audit. The video mentions strategies for meeting the requirements without excessively burdening personal schedules and clarifies the treatment of rental income.