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Money and Finances
Reply to "Qualified Business Income and Rental Property"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]250 hours requirement is for one property or both properties combined?[/quote] I think it’s probably combined for all properties. You need to prove you’re in the business of “real estate.” The time can include actual work done on the propert, visits, paying bills & taxes, time spent looking for tenants, filing paperwork, etc. It’s more inclusive than just manual labor. My question: if you hire a professional to do the work, can you also include the hours that person spent on labor?[/quote] According to the safe haven, you can count the hours you hire someone to do the work. The odd thing is you cannot count the time driving to/from the rentals. And yes, I believe all the rentals you own count toward the 250 hours, not per rental.[/quote]
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