IRS Real Estate Professional Qualification Question

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I am researching rental property and trying to determine whether or not I fully qualify as a full time real estate professional. This is important in determining how much (i.e. over $25,000) loss can be deducted from ordinary income in any one year.

I am unsure because I am a licensed real estate broker in both California and Nevada, but my primary business is a commercial mortgage broker/banker out of California. I see that the tax law expressly excludes mortgage brokers. My question then is this because most mortgage brokers (residential) do not hold a real estate brokers license? Specifically, I arrange debt financing for commercial projects. From time to time we act as a selling or buying broker and also arrange equity investments in commercial property. However, our primary business is procuring debt financing. Does the simple fact that I have an active real estate broker license and that I am engaged in the real estate field qualify me as a real estate professional? Or does the mortgage broker exclusion also apply to commercial mortgage brokers irrespective of whether or not they are licensed real estate brokers as well?

Second, if I do qualify as a full time real estate professional am I still limited to only taking loss deductions if my income is under $100,000?

Thank you in advance for the help. I really appreciate it.

Thomas