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Updated almost 3 years ago on .
RE Pro status: links for docs that clarify what activities count?
I am a high-income W2 employee. DW is not currently employed, other than involvement in our planned RE adventure.
Can someone clarify what counts for REP status? Any chance you've got links to srcs (case results, etc?).There seems to be huge confusion on this, even from the CPAs, and it seems it may have moved over time.
Specifically, the question is meeting the 750 hr bar (I understand the material participation req's may be distinct):
- does time spent finding properties to acquire and later rent count, assuming the search was being done for properties in an area where we do end up acquiring something? Both online and in person?
- I assume actively rehabbing the place (icky carpet removal, work to clean it up), as well as time spent planning that counts?
- time spent figuring out what to charge for rent? investigating the relevant tax law and such?
- screening tenants?