a person who devotes more than half of all his working time to the real estate profession (i

a taxpayer who spends the majority of time on REAL PROPERTY businesses

Generally, a taxpayer who spends more than half of their professional services in the real property business (property development, construction, acquisition, conversion, rental, management, leasing, or brokering) and more than 750 hours a year in real property trade or business.

An individual who provides services in buying and selling homes. The real estate professional is paid a percentage of the home sale price by the seller. Unless you have specifically contracted with a buyer's agent, the real estate professional represents the interest of the property seller. Real estate professionals may be able to refer you to local lenders or mortgage brokers, but are generally not involved in the lending process.

Any real estate broker, sales person, or attorney who holds a real estate license. back