Comments on: If I claim to be a real estate professional for tax purposes, is my income subject to FICA? http://www.qualicomm.com/qc/if-i-claim-to-be-a-real-estate-professional-for-tax-purposes-is-my-income-subject-to-fica/ Blackberry Cell Phones Tue, 28 Apr 2009 21:31:13 +0000 hourly 1 http://wordpress.org/?v=3.0 By: No4 http://www.qualicomm.com/qc/if-i-claim-to-be-a-real-estate-professional-for-tax-purposes-is-my-income-subject-to-fica/comment-page-1/#comment-544 No4 Sun, 22 Feb 2009 10:20:52 +0000 http://www.qualicomm.com/?p=340#comment-544 <a href=""><a href="http://northropteam.com/howard_county_real_estate.htm">Howard County real estate</a></a> First, be sure you really meet the definition of a real estate professional. See IRS link below. If you don't meet this requirement then claiming to be a RE Professional could be tax evasion. Beyond that, if the income is rental income, or capital gains, the answer is no. If the income is active income (i.e. commissions, hourly fees) then it may be subject to self-employment (FICA) taxes. Howard County real estate

First, be sure you really meet the definition of a real estate professional. See IRS link below. If you don’t meet this requirement then claiming to be a RE Professional could be tax evasion.

Beyond that, if the income is rental income, or capital gains, the answer is no. If the income is active income (i.e. commissions, hourly fees) then it may be subject to self-employment (FICA) taxes.

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