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Updated about 4 years ago on . Most recent reply presented by

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Sam Haack
  • Real Estate Agent
  • from Jackson Hole, WY
  • Member since Aug 7, 2019
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Sam Haack's profile image
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Sam Haack
  • Real Estate Agent
  • from Jackson Hole, WY
  • Member since Aug 7, 2019
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Sam Haack
  • Real Estate Agent
  • Jackson Hole, WY
39
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Tax, SDIRAs & Cost Segregation

Best practices qualifying as a real estate professional

Sam Haack
  • Real Estate Agent
  • Jackson Hole, WY
Posted

I am looking into how to properly document my time to make sure I qualify myself as a real estate professional in the eyes of the IRS in order to write off my passes losses off against my active income. What do some of you do to meet those requirements and make sure if you are audited, you have all the proper documentation and there is no confusion or penalties? Time tracking apps, etc? Thanks!

  • Sam Haack
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  • Podcast Guest on Show #175
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    Michael Plaks
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    Michael Plaks
    #1 Tax, SDIRAs & Cost Segregation Contributor
    • Tax Accountant / Enrolled Agent
    • Houston, TX
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    @Sam Haack

    This is a good intro: 
    https://www.biggerpockets.com/blog/real-estate-professional-status-save-money-on-taxes



  • Michael Plaks
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