SeattleCPA, Thanks for your response!
I am active RE investor (buy and hold) and the wife is a gov employee, the issue is not with the legal status of the RE holdings, the issue/question we have is about tax strategies for 2017 return as it looks like we are loosing a bunch of our CC interest expenses on our 2016 deductions, we used to get these deductions on our personal returns for years. We are running out of deductible expenses so i am seeking ideas for new ones.
open: college savings account for kids
or SEP 401K
or new co car purchase
any ideas are appreciated.