asked

Concerning the new 3.8% Medicare Tax, do we need to pay it? I believe we should be considered Real Estate Professionals. My wife and I have two retail shopping centers and four residential houses. We spend over 751 hours per year dealing with insurance issues, visiting properties, and managing property managers. Our net income from these properties is our only income plus social security and some income from stocks. When we sell a property and search for a compatible 1031 exchange, we work 15-16 hours a day and travel extensively. If you have any questions, please ask.

December 31st, 2023

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