#413 Open Forum | Your Questions Our Answers
Main Street Business
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Real Estate CPA - Is Your W-2 Really a W-2?
In order to be a real estate professional with a W-2 job, you need to work more in your real estate business than your W-2. The second part of the test is not only the hours you spend, but what's your primary occupation? It's hard to show the IRS that you work 41 hours a week doing real estate when your day job is being a chiropractor. C.T. Firefighter Cleon says his tax return won't get rejected per se. This issue is that if you were ever audited, you would need to prove that you met the hours requirement.
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