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Get your taxes done using TurboTax
You can elect to treat all interests in rental real estate as one activity. Then since you are a REP, you would be deemed to materially participate in all of them. This requires filing an election with your timely filed return declaring that you are a qualifying taxpayer (REP) for the year and are making the election pursuant to iRC SEC 469(c)(7)(A). According to the IRS this does not affect whether or not you're a REP. It's only considered for determining material participation in your rental real estate activities (CCA 201427016). This election is irrevocable unless there is a material change in your facts and circumstances. (for example yo fail to qualify as a REP)
‎April 6, 2024
8:26 PM