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Financial Planning / Tax Strategies
|Subject: Re: Rental property income||Date: 3/15/2001 8:11 PM|
|Author: gogolfer||Number: 48499 of 120398|
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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