Hi,
Since I was not able to take all of my deductions this year ( $25K limit), does that mean that the remaining deductions will be added to the 2007 tax year? I was thinking that maybe I should obtain my real estate license in order to be able to deduct all of my expenses in the same tax year. Is that possible? Are there any draw backs if I go from a non license status to a license status in real estate. I also was thinking about this because of the amount of properties that I am buying, and holding each year. Let me know your thoughts on that, and if it would be to my advantage to get my real estate license.
Thanks,
PR