The quick read
Key points
- Use dated, specific descriptions.
- Preserve supporting records.
- Identify gaps for professional review.
Record the actual activity
Keep a dated log of the work performed, the property, the people involved and the time recorded. Use specific descriptions such as reviewing a contractor invoice rather than broad labels like management. Do not recreate unsupported hours to reach a target.
Keep supporting evidence
Retain calendars, meeting notes, correspondence and other records that support the activity. Distinguish travel, investor review and hands-on work in the preparation file without deciding their tax treatment yourself. Note estimates and gaps clearly.
Review consistency with other records
Compare the activity log with leases, invoices and property events. Correct clerical mistakes while preserving the reason for the correction. A mismatch is a question to resolve, not a reason to invent a new event.
Leave status decisions to a qualified reviewer
Provide the full record for material participation or real-estate-professional analysis. A log total or software category does not establish eligibility. IQ does not certify either status, and this guide is not tax advice.
Before you finish
- Use dated, specific descriptions.
- Preserve supporting records.
- Identify gaps for professional review.
Official guidance for your review
Confirm the current edition and your circumstances with a qualified professional.
Keep your next step simple.
Use the product guide for the app workflow, or contact support with your question. Bookkeeping reports are not tax advice; review filing decisions with a qualified professional.