I had spoken with my previous CPA about possibly becoming a 1099 for my current employer to achieve Real Estate Professional status.

Update:Sept 25 - I emailed my concerns to MI about the status of the rehab and lack of communication.

I am looking to understand if development and construction hours for new multifamily project are eligible for material participation to earn real estate professional status the year it comes online.I have land and looking to build a 20 Plex apartment building with a general contractor the fall of 2023 and hopefully be completed the fall of 2024 for occupancy.

Create columns for Name, Street Address, City, State, Zip and then contact info: Last Contact, Relationship, Status, Email & Phone.IMPORTANT: do NOT ask people for THEIR business, ask for referrals!

Agreed with what @Chris Seveney said above, also what is the project's current status?

you most likely won’t qualify for Real Estate Professioanl status according to irs rules since more than half your time must be in real estate activities (shortened, imprecise version).

Accountants who truly specialize in REI have a consensus on how RE Pro status works.

Someone with few years of tax experience and trying to master all areas of tax can be a little scary.There are many unique tax laws when it comes to real estate - 1031 exchange, Qualified Opportunity Fund(QOF), Cost Segregation/Bonus Depreciation/179 Expense, Real Estate Professional Status(REP).Best of luck

Real estate professional status, but you have to qualify.Most higher earners are just happy that their real estate income is shielded and/or tax deferred, which reduces their overall effective tax rate.

Hey everyone, hoping to get some insight from this group regarding the RE Professional Tax benefit.I see lots of articles claiming that I should be able to deduct rental losses against my husband’s W-2 income if I claim the RE Professional Tax status.