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Updated about 5 years ago on . Most recent reply

User Stats

266
Posts
311
Votes
Guy Yoes
  • Rental Property Investor
  • Springfield, Mo
311
Votes |
266
Posts

counting hours to claim real estate professional status

Guy Yoes
  • Rental Property Investor
  • Springfield, Mo
Posted

I am fully retired and have a small pension. I own 7 doors all of which are about 30-40 miles from my house. I am managing the properties myself and spend a good amount of time overseeing them (maintenance, cleaning, showing them and inspections). I have logged my milage and hours working but am still short of the 750 hours to claim RE professional. I have not included my drive time as I claim mileage.

Can I claim both mileage and time driving to reach the magic number to be a real estate professional? Can I include the hours outside of maintenance like doing the books,driving to make deposits at the back, picking up supplies at Lowes, etc?

Are there other things I can claim that I may not be aware of to count as business?

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