IRS Audit of Real Estate Professional

Steven Francis Schroeder

Case Conclusion Date:January 1, 2011

Practice Area:Tax

Outcome:Client was found to be a real estate professional within the meaning of the code.

Description:Client claimed to be a real estate professional on his jointly filed 1040, and claimed real estate losses in excess of $240,000. Upon audit the IRS denied clients standing as a real estate professional.

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