The real estate professional status (REPS) is a tax designation under the U.S. tax code that can provide a sizable financial benefit to someone who is actively involved in the real estate business.

Expertise and opinions of authors published by ForbesBooks. Imprint operated under license. Real estate has long been a wealth-building tool for high-net-worth individuals. Beyond its potential for ...

Simplify Your Taxes. Master Your Finances. Being self-employed is tough—especially when it comes to taxes. You’re the CEO, CMO, and CFO, juggling saving, expense tracking, and filing, all while your ...

Real estate professional tax status allows qualifying individuals to deduct losses from real estate activities against their ordinary income. This can potentially help reduce your overall tax ...