My wife & I own a multi family and just finished doing 80% of the work for a live-in-flip. She’s unemployed but spent 100s of hours working on the live-in-flip. She doesn’t meet the hour requirement for Real Estate Professional status with just maintaining the multi fam for is to deduct the multi fam rental losses from my W-2 but does if we counted the hours spent renovating the live-in-flip as well. Thoughts on whether we can use the live-in-flip hr count for the 750 hrs req’d for REP status?

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Posting as :
works at
You are currently posting as works at

You need to talk to a real estate knowledgeable CPA.

Also, your timelog needs to be very diligent.

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