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kamohai
New Member

I rent a property and am involved in making all decisions and spend more than 750 hours, do I qualify as a real estate professional a year

I am the VP of real estate  and manager for the largest landowner in Hawaii and own rental property that I manage, do I qualify as a real estate professional

1 Reply
Carl
Level 15

I rent a property and am involved in making all decisions and spend more than 750 hours, do I qualify as a real estate professional a year

Just do clarify, do you pay rent for property, or do you own property that you rent out? Saying "I rent property" can go either way. So you need to clarify.  
Does rental property income provide more than half of your taxable income? How many rental properties do you own? I have 3 myself, and find it absolutely impossible to spend more than 750 hours a year directly involved with it. Maybe you are a certified realtor or real estate agent? Need to be more specific. A farmer is "directly involved" in real estate. But that does not qualify them as a real estate professional.
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