Solved
Not recognizing me as a Real Estate Professional.
I have been checking the box for more than 750 hrs/year and the program will qualify me as a professional real estate, but now with 2017 it's not recognizing me.
Spending more than 750 hours in real estate alone is not sufficient to qualify as a real estate professional. You need to pass all the following four tests.
In Turbotax, you need to check both boxes saying that you spend more than 750 hours a year actively involved in real estate and that you spent more than 50% of your work-related time involved in real estate
You are a real estate professional if all of the following are true:
- You materially participated in a real property trade or business.
- More than half of your time is involved in real estate activities during the year.
- You materially participated for more than 750 hours in this business.
- You materially participated in each rental real estate activity.
A real property trade or business is any business that involves property:
- Development
- Construction
- Redevelopment
- Reconstruction
- Acquisition
- Conversion
- Rental operation
- Management
- Leasing
- Brokerage
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
