Hello everyone, I hope that this tax season goes great for you. I am trying to find an answer for this.
I am a carpenter, and my wife and I own a 3-unit apartment building. We live in one unit and rent the other two, I am the only one who manage and meantain the building, such as snow removal, lawn care, trash removal, roofing, the building, etc.
I collect rent and take care of any issues that might arise with our tenants. I built a concrete walkway last summer and rebuilt the steps all in 2022.
It is an older building built in 1903. But I am still wondering if I meet the real estate professional status because I receive a W-2 from the construction company I work for, but I am not an owner at work.
Please let me know what you think. Thank you for your time.