Being Classified as a Real Estate Professional

[Andrea Weule]

So a week ago I was told I'd save a ton on my taxes if I was considered a Real Estate Professional.  I asked how to do it and was told, your CPA can do that when they file for you.  Obviously, I've done some research since then...thank you good friend Google, but I'm still a bit lost.  It seems like it requires a set number of deals (it was different based on what article I read), or set money invested (again varied), or over 750 hours of real estate services (again it didn't really classify what are RE services).

I'm super curious (You might even say Undeniably Curious) if anyone here is a Real Estate Professional for tax purposes or if they've done any better research.  

Thanks All!