Hello, can you use hours towards real estate professional if you are prepping a commercial building to rent out? Client is doing cost segregation now but I am assuming they can’t take depreciation but perhaps they can take repairs expense…can the tile spent on the repairs don’t towards 750 hr even though building is not being rented out?
I’m not sure but here are the trades or businesses that qualify. A“real property trade or business” includes:
• Development and redevlopement,
• Leasing or
• Brokerage. (including real estate agents)