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Updated about 3 years ago,

User Stats

13
Posts
6
Votes
Thomas C.
  • Rental Property Investor
  • Williamsburg, VA
6
Votes |
13
Posts

Active Participation - Anyone have audit experience with this?

Thomas C.
  • Rental Property Investor
  • Williamsburg, VA
Posted

I've seen people in the BP forums with differing opinions on the topic (shocker!). Some say as soon as you get a Property Manager you are passive no matter what. Others quote the readily available Internet information saying  "if you (and your spouse) owned at least 10% of the rental property and you made management decisions"... blah, blah. 

But I'm curious to know, has anyone in the forums actually been audited to be able to speak authoritatively on this subject? Has anyone with a prop. mgr. been audited and proved that they actively participated in the rental activities and been deemed by the IRS as actively participating? 

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