I am confused as to whether my wife/I "materially participate" in our real estate rental activities.
Background: we have a rental property where my wife and I manage all rental related activity (repairs, picking renters, hiring contractors to do work, etc.). My wife is also a real estate professional (she works as a full-time real estate attorney).
QUESTION: does she need to spend more than 50% of her time on real estate activities IN GENERAL or specific to doing work for our rental property in order to qualify for "material participation" per the IRS definition?
