Q&A: How Do I Qualify as a Real Estate Professional? - Episode 667
Sep 07, 2020, 10:00 AM
Rental income is taxed differently if you qualify as a real estate professional with the IRS. However, reaching pro status takes a time commitment of 750 hours per year. If you're thinking about becoming a real estate professional, you might be wondering what types of activities count toward those 750 hours.
On this Q&A Monday, I'm answering a listener question about how to qualify with the IRS as a real estate professional. Additionally, I'm taking two more questions about refinancing after using business lines of credit, and how to make the most out of the equity in your rental property.
On this Q&A Monday, I'm answering a listener question about how to qualify with the IRS as a real estate professional. Additionally, I'm taking two more questions about refinancing after using business lines of credit, and how to make the most out of the equity in your rental property.