Category: Business Operations|Business Tax|Individual Tax|IRS|Real Estate

  • Travel Time Can Count for Real Estate Professional 750-Hour Test

    Travel Time Can Count for Real Estate Professional 750-Hour Test

    In a recent Tax Court decision, the court held that Ellen P. O’Neill’s time incurred while travelling to her rental properties to perform various tasks could be used as a way to prove her 750-hour threshold to qualify as a real estate professional. The ruling in this case contradict Truskowsky, a prior Tax Court case in which the…