Legal Question in Tax Law in New Jersey

Real Estate Professional

Does the practice of Architecture qualify under IRS regulations as a real estate professional?


Asked on 8/13/08, 1:31 pm

2 Answers from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Real Estate Professional

Not to my knowledge. Traditionally "real estate professionals" are brokers, salesmen, owners of real property, etc.

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Answered on 8/13/08, 1:34 pm
Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

Re: Real Estate Professional

No. Architects are licensed professionals. Even though they deal with real estate, it does not make them a "Real Estate" professional for tax purposes. If the architect were also to engage in developing and construction of real estate, then the architect would be a treated as a real estate professional for tax purposes.

I hope this helps!

Ron Cappuccio

http://TaxEsq.com

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Answered on 8/13/08, 4:09 pm


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