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Updated almost 4 years ago, 02/02/2021

User Stats

7
Posts
4
Votes
Joe Spinelli
  • Frederick, MD
4
Votes |
7
Posts

Real Estate Professional - 750 hour question

Joe Spinelli
  • Frederick, MD
Posted

Hello everyone!  I know the criteria to be a RE Professional is 750 hours in RE and more hours in RE than any other job.  

My accountant told me that I need to spend 750 hours PER PROPERTY which does not make sense.  He also told me that I need to be active on every property or I can only claim active income on those properties for which I was active.  That part does make sense.  

For example: if I managed 123 Main St. but had a property manager manage 123 Spruce St, I can only claim active income on 123 Main St.  123 Spruce St. would be passive income.  

Any insight would be helpful.  Thank you.

Joe

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