@Rick19744 @Carl
I do not qualify for real estate professional in 2020 because the 750 hours have not been met. In 2021 I will meet all the qualifications, material participation, 51% of time and 750 hours. I do realize that aggregating the 2 properties I have in 2020 will not allow the income to be considered active as I am not a qualified real estate professional however it was my understanding that I needed to group my properties this tax year and therefore need to include the election letter so that the passive losses can be combined and part of the grouping for use in future years that I meet the real estate professional qualifications. 2021 will be met. Should I not include the election letter this year? If I don’t include what will that mean for the passive losses that occurred prior to the election?
