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569: Rich Dad's CPA Shares 5 Steps to Eliminate Income Taxes through Real Estate w/Tom Wheelwright
BiggerPockets Real Estate Podcast
What's the General Rule for Real Estate Professional?
The general rule is that if you spend more than 500 hours in a business activity, you're active. There are two exceptions to that: Real state rental and real estate professional. To be a real estate professional, you have to spend more than a hundred and 50 hours in real estate. But once you meet that rule, you still have to meet the material participation rule,. So she had like 25 different properties but couldn't meet 500 hours for each property. She didn't qualify to be non passive in that real estate even though she was a realestate professional.
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