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URL:
http://boards.fool.com/i-read-the-irs-rules-and-i-am-somewhat-confused-14559234.aspx
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| Subject: Re: Rental property income | Date: 3/15/2001 8:11 PM | |
| Author: gogolfer | Number: 48499 of 118623 | |
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I read the IRS rules and I am somewhat confused about active participation. I am not a realtor but purchased the property specifically as an investment. My wife and I are sole owners. I contracted the realtor to find a renter but actually secured a renter for this year (2001) myself. Over the course of the four months ownership in 2000 I maintained the empty house by doing the landscaping, minor repairs and hiring contractors to put in a new floor and paint. I have, as mentioned earlier, all receipts for work done and parts purchased. Do you think I qualify under the IRS rules. Thanks for all your help. You don't live in the Houston area do you? |
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