bonus depreciation with W2 income

[Eric Lin]

We are new here, try to do bonus depreciation.

I have high w2 income, My wife has a w2 income of about $100k. She has the agent license, actively manages 10+units and several flip projects per year.

Her time in real estate is more than what her spend in work and 750 hours plus per year. Because she has w2, can she still qualify as a real estate professional?

I just worry IRS may question us, and it is really annoying to track every minute in real estate work.

Any advice on this?

[Bruce D. Kowal]

You gotta keep track.  

Sorry.  Get a log book.  

And while you are at it, keep track EVERY FRIGGING DAY of your mileage.  Note the mileage for your business of real estate.  

At year end, it will be worth it.  DO IT NOW, while the year is still young, and you can fill in from Jan 1 to today.  

NOW!