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Updated about 6 years ago on . Most recent reply
Can I classify myself as a real estate pro for tax purposes?
Hi - I am W-2 employee for commercial real estate broker. I have my real estate license and spend most of my day working in office leasing. I have one rental property that I own personally. Can I classify myself as a real estate professional for tax purposes even though most of my day to day work is not for the rental property that I own?
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Eamonn McElroy
#5 Tax, SDIRAs & Cost Segregation Contributor
#5 Tax, SDIRAs & Cost Segregation Contributor
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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
#5 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Atlanta, GA
Do you own at least 5% of the commercial real estate brokerage? If no, you most likely won't be able to qualify as an RE professional.