Investor · Boston, MA · Member since 2014 · 232 posts · 165 votes
Hey BP - does anyone mind sharing an example of their real estate professional logbook? Would love to see an example of some real life qualifying activities and what you're including.
I was researching the REPS tracker and saw your post. Would you mind sharing a copy of your REPS spreadsheet with me as well? Thanks very much! Also, I get confused with researching online and what my CPA told me. We are working on the BRRRR project out of state, and will the rehab period while we manage the reno time count toward the 500 hours material participation? My CPA told me it counts towards the 750 hours requirement, but not the material participation time for the rentals, because the rental is not placed in service yet. Is it right?
I was researching the REPS tracker and saw your post. Would you mind sharing a copy of your REPS spreadsheet with me as well? Thanks very much! Also, I get confused with researching online and what my CPA told me. We are working on the BRRRR project out of state, and will the rehab period while we manage the reno time count toward the 500 hours material participation? My CPA told me it counts towards the 750 hours requirement, but not the material participation time for the rentals, because the rental is not placed in service yet. Is it right?
Sure, will send you sample material participation activity tracker / REPS Log that follows the guidance suggested in IRS Audit Techniques Guide (ATG)
I was researching the REPS tracker and saw your post. Would you mind sharing a copy of your REPS spreadsheet with me as well? Thanks very much! Also, I get confused with researching online and what my CPA told me. We are working on the BRRRR project out of state, and will the rehab period while we manage the reno time count toward the 500 hours material participation? My CPA told me it counts towards the 750 hours requirement, but not the material participation time for the rentals, because the rental is not placed in service yet. Is it right?
Sure, will send you sample material participation activity tracker / REPS Log that follows the guidance suggested in IRS Audit Techniques Guide (ATG)
Thank you, Sean! Do you need my email? BP does not allow me to add my email. Please let me know what's the best way to connect.
I was researching the REPS tracker and saw your post. Would you mind sharing a copy of your REPS spreadsheet with me as well? Thanks very much! Also, I get confused with researching online and what my CPA told me. We are working on the BRRRR project out of state, and will the rehab period while we manage the reno time count toward the 500 hours material participation? My CPA told me it counts towards the 750 hours requirement, but not the material participation time for the rentals, because the rental is not placed in service yet. Is it right?
Sure, will send you sample material participation activity tracker / REPS Log that follows the guidance suggested in IRS Audit Techniques Guide (ATG)
Thank you, Sean! Do you need my email? BP does not allow me to add my email. Please let me know what's the best way to connect.
Fortunately, BP has a msg. feature :) I just sent it to you.
Hey BP - does anyone mind sharing an example of their real estate professional logbook? Would love to see an example of some real life qualifying activities and what you're including.
I have a basic spreadsheet built for clients that I'm happy to share for free. Please send me a DM if you would like a copy!