Real Estate Professional Status Documentation

[Haley Brown]

Hello! 

My husband and I own/manage a few LTRs and MTRs in Texas and we are thinking I might qualify for Real Estate Professional Status in 2024 with all the hours I put into our properties (and growing properties :)).

We have spoken to our CPA about requirements but I am feeling a little overwhelmed at how to log these hours in an efficient, accessible and manageable way. Does anyone have a spreadsheet they use that they wouldn't mind sharing? Or anything other suggestions on the best way to document these hours? I have found a few old forums with ideas but they are 4-5+ yr old, wondering if there might be anything new out there as well. 

Thanks so much! 

[Russell Brazil]

Do you have a full time job? If you do, you wont qualify. Some people might tell you that you do, but the fact is the tax court has only found across thousands of times its been in front of them, only 2 people with full time jobs ended up successfully defending the status.