RE professional-please answer - Spidell

RE professional-please answer

Log in to Post

Message Board RE professional-please answer

This topic contains 2 replies, has 2 voices, and was last updated by Lynn Freer 3 weeks, 2 days ago.

  • Author
  • #182215

    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?

  • #182481
    Lynn Freer

    I’m not sure but here are the trades or businesses that qualify. A“real property trade or business” includes:
    • Development and redevlopement,
    • Construction,
    • Acquisition,
    • Conversion,
    • Rental,
    • Operation,
    • Management,
    • Leasing or
    • Brokerage. (including real estate agents)

  • #182482
    Lynn Freer

    Sorry I answered the wrong question