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April 3, 2025
Question

I am a Real estate Professional. Turbo Tax won't let me answer this question as a "yes" and keeps defaulting to "no". Why?

  • April 3, 2025
  • 1 reply
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    1 reply

    April 3, 2025

    Make sure to check the boxes on the screen showing below:

     

    You are considered to be a real estate professional if:

    1) more than one-half of the personal services you provided during the year were performed in a real property trade or business in which you materially participated; AND

    2) the number of hours in which you materially participated in this real property trade or business was more than 750 hours; AND

    3) you must materially participate in each rental real estate activity unless you filed an election to group all rental real estate activities as one (and materially participate in that activity).

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