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Updated over 8 years ago,
Do I Qualify as a "Real Estate Professional"? for Tax Purposes?
I am considering purchasing my first rental property. I make over $150k so I'm out from the AGI perspective. However, my full time job is doing acquisitions for a real estate investment firm so I certainly spend well over 750 hours a year doing real estate activities.
My question is does this count since I am not performing the real estate activities for my personal investments, but rather those of our firm/ investment fund?
Thanks for your help!