REP Tax Status as Home Inspector

[Gregory Hill]

I’m a professional full time home inspector with rental income properties. Haven’t been able to find definitive answers on if I would qualify for real estate professional tax status under my profession. I know this is a detailed question for my tax attorney but hoping for some guidance prior to consultation. I know developers, appraisers and other non-realtor professionals have qualified, but in all my digging have not seen an example of home inspector. Any thoughts or advice is appreciated thanks!

[Steven Hamilton II]

To be a real estate professional, an individual must spend the majority of his or

her time in real property businesses:

• Development or redevelopment

• Construction or reconstruction

• Acquisition or conversion

• Rental

• Management or operation

• Leasing

• Brokerage

The taxpayer must meet each of the following two time requirements:

• More than 50 percent of his/her time working in real property businesses;

AND,

• More than 750 hours of service during the year.