Real Estate Professional Status Checklist

REAL ESTATE PROFESSIONAL STATUS (REPS) QUALIFICATION CHECKLIST
IRC Section 469(c)(7)
Taxpayer Name: ___________________
Spouse Name (if applicable): ___________________
Tax Year: _______
CPA / Tax Advisor: ___________________
Prepared By: ___________________  Date: ___________________
DISCLAIMER: This checklist is for organizational and planning purposes only and does not constitute tax or legal advice. Qualification as a Real Estate Professional is a complex determination under IRC Section 469(c)(7) and related Treasury Regulations. Always verify your specific facts and circumstances with a qualified CPA or tax attorney before claiming Real Estate Professional Status on your federal tax return. Improper claims may result in penalties, interest, and audit risk.
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SECTION 1 — THE TWO PRIMARY REPS REQUIREMENTS
To qualify as a Real Estate Professional under IRC Section 469(c)(7), a taxpayer must satisfy BOTH of the following tests in the tax year:
TEST 1 — THE 750-HOUR REQUIREMENT:
  "More than one-half of the personal services the taxpayer performs in trades or businesses during the taxable year are performed in real property trades or businesses in which the taxpayer materially participates."
  [ ] Taxpayer's total hours in all trades and businesses (including W-2 employment): _______ hours
  [ ] Taxpayer's total hours in real property trades or businesses (material participation): _______ hours
  [ ] More than 50% of all personal services test:
      Real estate hours: _______  /  Total hours: _______  =  _______% (must exceed 50%)
      [ ] Test 1 SATISFIED: Real estate hours exceed 50% of all personal service hours

[Section 2 — continued...]

[Section 3 — fill in your details...]

[Additional clauses and provisions apply...]