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Updated 10 months ago on . Most recent reply

User Stats

6
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4
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Kev Li
4
Votes |
6
Posts

IRA's Real Estate Professional Designation

Kev Li
Posted

Hello, I am wondering if any real estate attorneys can please shed light on whether my current job status would qualify me as a "real estate professional".

Specifically, my full-time job in which I work more than 750 hours a year is as a mechanical engineer for a engineering consulting company. I am responsible for designing HVAC/plumbing systems for commercial buildings. I often do site visits to the property and then design/draw the hvac/plumbing systems for the building.

From what I gather below the following would all fall under "real property trades":

"The statute lists 11 types of real property trades or businesses: real property development, redevelopment, construction, reconstruction, acquisition, conversion, rental, operation, "

I believe that my line of work can be classified under "real property development", "construction", "conversion". But I am not a lawyer so not sure if I am understanding it correctly. May I please get some confirmation from a real estate attorney on whether my full-time job qualifies under the IRA's legal definition of "real property trades". Thanks in advance.

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