Taxes: Adding LPS to your Professional Real Estate Investments

[Karen F.]

Hi,

My question is, can a real estate professional (primary job is managing my own real estate; spend 750 hrs +) with active participation in their own privately held properties ... can that individual ADD to that grouping new holdings in limited partnerships (where they are not the general partner and do not have active participation in the management of the building -- but where diversifying to these holdings is part of their overall investment strategy?) Is this a valid grouping? Would love to hear thoughts/feedback/or recommendation of someone to consult.

Thanks!