Real estate professional time log (REPS tracker)

Accountant · San Diego, CA · Member since 2019 · 1k+ posts · 552 votes

Hello BP family!

I wanted to post a screenshot of the real estate time log we have made available for clients. We try to keep it simple, and provide examples in the guide for people that are not sure what counts and what does not. If you want a copy of this spreadsheet to track your REPS hours, feel free to send me a DM to get a copy. Happy investing!

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Jason WatsonBusiness Member

CPA · Colorado Springs, CO · Member since 2024 · 98 posts · 83 votes

I'd make the Activity be a dropdown... control the narrative. The material participation column would be read-only and change depending on the dropdown. Next, I would add a comments column. Seems a little wide too... perhaps some tighter formatting.

Good idea!

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Jason WatsonBusiness Member
CPA · Colorado Springs, CO · Member since 2024 · 98 posts · 83 votes
2y
I'd make the Activity be a dropdown... control the narrative. The material participation column would be read-only and change depending on the dropdown. Next, I would add a comments column. Seems a little wide too... perhaps some tighter formatting.

Good idea!
[email protected]719-387-9800
WCG CPAs & Advisors4.598 Reviews
Website View Page
1 Reply
Account Closed
OP
Accountant · San Diego, CA · Member since 2019 · 1k+ posts · 552 votes
2y
Quote from @Jason Watson:
I'd make the Activity be a dropdown... control the narrative. The material participation column would be read-only and change depending on the dropdown. Next, I would add a comments column. Seems a little wide too... perhaps some tighter formatting.

Good idea!

Thanks Jason I appreciate your feedback on this! What do you mean about drop down? Do you mean several preset activities? I can see the value there, on the other end it may make some folks think some activities not included are not REPS activities when they might actually be. I have a "how to use" section which goes over the principles of the rule rather then case by case
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Bruce D. Kowal
Metro NY + New Bedford · Member since 2022 · 294 posts · 216 votes
2y
The IRS in its Passive Activity Loss Audit Technique Guide published a sample Activity Log. Page 4-16. [The copy/paste here is not the best. But you get the idea, and, hey, it's the IRS own format!]
Date
Hours Spent
Description of Service Performed. Be as specific as possible.
By each service, enter H or W for husband or wife.
If requested, how could activity be verified?

Exhibit 4.4: Activity Log Business/Property:__________________ Year:____________ Complete the following by day:

________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________

Under penalties of perjury, I declare that I have examined the information contained on this worksheet, including attached worksheets and statements, and to the best of my knowledge and belief, it is true, correct and complete.

__________________________________ ___________________ Signatures (both spouses, if married) Date

Reg. § 1.469-5T(f)(4) provides that reasonable means for proving hours may include a statement of services performed AND approximate hours based on appointment books, calendars, etc. To meet his burden of proof under IRC 7491, the taxpayer must comply with the recordkeeping requirements of the regulations.
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- Peter KowalikPro Member
  Rental Property Investor · OR | WA | FL | NY · Member since 2020 · 3 posts · 0 votes
  7mo
  Quote from @Bruce D. Kowal:
  
  The IRS in its Passive Activity Loss Audit Technique Guide published a sample Activity Log. Page 4-16. [The copy/paste here is not the best. But you get the idea, and, hey, it's the IRS own format!]
  Date
  Hours Spent
  Description of Service Performed. Be as specific as possible.
  By each service, enter H or W for husband or wife.
  If requested, how could activity be verified?
  
  Exhibit 4.4: Activity Log Business/Property:__________________ Year:____________ Complete the following by day:
  
  ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________
  
  Under penalties of perjury, I declare that I have examined the information contained on this worksheet, including attached worksheets and statements, and to the best of my knowledge and belief, it is true, correct and complete.
  
  __________________________________ ___________________ Signatures (both spouses, if married) Date
  
  Reg. § 1.469-5T(f)(4) provides that reasonable means for proving hours may include a statement of services performed AND approximate hours based on appointment books, calendars, etc. To meet his burden of proof under IRC 7491, the taxpayer must comply with the recordkeeping requirements of the regulations.
  Audit technique guides - Real estate - Passive activity losses (obsolete) according to: https://www.irs.gov/businesses/small-businesses-self-employe...
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Mike S.
Member since 2024 · 4 posts · 1 vote
2y
Hi Guys,
Thank you for the info. I have a very detailed log book that lists all of the items mentioned that i've kept since the beginning of my project. I do have a follow up question though on the topic. During my project, I had contractors work on the home (which I tracked their hours) and I definitely have more hours spent on the project than they do but my question is in regards to when the "12 month time period" actually begins. i.e. If someone was building their home new (or major reno) for the first 5 months of the year and then places the property into service in June, does the first 5 months of contractor work (building the new home) count towards the calculations or does the timeline only start after the home is put into rental service?
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Josselyn Jorge
Member since 2024 · 24 posts · 7 votes
2y
@Mike S. would you mind sending me a version of your log book for reference? Thank you!
0 Reply
Adam Simpson
Certified Public Accountant (CPA) | Tax Consultant | Bookkeeper · Member since 2022 · 29 posts · 17 votes
2y
Quote from @Josselyn Jorge:

@Mike S. would you mind sending me a version of your log book for reference? Thank you!

shoot me a PM and I will send you a good template I have.
0 Reply
- Myra Haubrich
  Member since 2022 · 3 posts · 0 votes
  1y
  Quote from @Adam Simpson:
  
  Quote from @Josselyn Jorge:
  
  @Mike S. would you mind sending me a version of your log book for reference? Thank you!
  
  shoot me a PM and I will send you a good template I have.
  
  Adam, I would appreciate a good template if possible. Will send you a PM. Thanks!
  0 Reply
- Andre Alabd
  Member since 2022 · 1 post · 0 votes
  1y
  Quote from @Myra Haubrich:
  
  Quote from @Adam Simpson:
  
  Quote from @Josselyn Jorge:
  
  @Mike S. would you mind sending me a version of your log book for reference? Thank you
  I’m starting to create log for REP and would appreciate any template.
  0 Reply
Account Closed
OP
Accountant · San Diego, CA · Member since 2019 · 1k+ posts · 552 votes
2y
Quote from @Adam Simpson:

Quote from @Josselyn Jorge:

@Mike S. would you mind sending me a version of your log book for reference? Thank you!

shoot me a PM and I will send you a good template I have.

Id love to see yours as well Adam! Im always open to improving mine :)
0 Reply
Edgar Estrada
Rental Property Investor · San Antonio, TX · Member since 2016 · 66 posts · 10 votes
10mo
Hey BP community, there's already a few tools on the market place that assist with tracking your REP hours.

You can also just use a Google sheet tracker, which I've created a free template for if you'd like a copy. Just let DM me if interested in tool recommendations or a Google sheet template.
0 Reply
Peter KowalikPro Member
Rental Property Investor · OR | WA | FL | NY · Member since 2020 · 3 posts · 0 votes
7mo
I used AI to create a spreadsheet that includes a REP Activity drop-down menu. It's available for free. You can download it using my view-only public shared link:

RE_Professional_Hours_Tracker
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- Angela BlonskyPro Member
  Member since 2024 · 2 posts · 0 votes
  4mo
  Quote from @Peter Kowalik:
  
  I used AI to create a spreadsheet that includes a REP Activity drop-down menu. It's available for free. You can download it using my view-only public shared link:
  
  RE_Professional_Hours_Tracker
  The link was not active. Can you PM it to me or repost? Thanks!
  0 Reply
- Peter KowalikPro Member
  Rental Property Investor · OR | WA | FL | NY · Member since 2020 · 3 posts · 0 votes
  2mo
  
  Updated link:
  
  RE_Professional_Hours_Tracker
  
  0 Reply
Vincent V.
Investor · Midwest · Member since 2026 · 4 posts · 0 votes
7mo
You can also use Clarybook, it's free and you just text your entries and it records it for you.
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