I work full time as a property manager for a large corporate management company. I have been buying property on the side and now own 6 of my own units that I rent out.
My accountant was preparing my taxes this year and mentioned that I would qualify as a “Real Estate Professional” and qualify for the tax benefits. My file was handed to another accountant and she is saying that I will not qualify because my full-time job does not count toward the hours needed by the IRS since I have no ownership.
Since I am getting conflicting information, I read everything I could find on the subject online, and have to admit I am still a little confused.
If I work in a real estate related industry full time, but do not own any part of apartments I manage full time, does that still count toward the hour requirement set by the IRS?
I really appreciate the help,
Jonathon
