Track the records that support your real estate tax strategy.
BluePrint helps organize REPS and short-term rental participation records so owners and CPAs can review how accelerated depreciation may be used.
Why participation records matter
A cost segregation study reclassifies components of a property into shorter recovery periods, creating larger depreciation deductions earlier in the hold.
Whether accelerated losses offset other income often turns on documented time and involvement — the records, not just the study, carry the weight.
Rebuilding a year of hours from memory in March is exactly the kind of thin record that invites scrutiny — contemporaneous tracking is far stronger support.
A CPA reviewing REPS or material participation needs structured, property-level records — not a shoebox of receipts and half-remembered dates.
Two tests your CPA will review
Real Estate Professional Status and short-term rental material participation are evaluated differently. The tracker organizes the records for whichever path applies — your CPA determines whether either test is actually met.
- 750+ real estate hours across the tax year
- More-than-50% personal services test against all other work
- Material participation in each rental activity still matters
- CPA review required to determine qualification
- Property-level participation tracking, not just a portfolio total
- 500-hour test, tracked per property
- 100-hour and more-than-anyone-else test as an alternative path
- Average stay and services provided should be reviewed with a CPA
How this connects to your BluePrint study
Start with a preliminary estimate of the accelerated depreciation a cost segregation study could identify.
A qualified specialist completes the engineering-based study and classifies the property's components.
Alongside the study, the tracker organizes REPS or STR participation records tied to the same property.
Missing information is flagged in plain language so records are complete before tax time, not after.
Everything is organized into a packet your CPA can review to plan how the accelerated losses may be treated.
A preview of the CPA review packet
Illustrative only — every project's packet reflects that owner's actual properties, hours, and documentation.
512 of 750 tracked hours — tracking target
- Harbor View Bungalow: average guest stay not entered.
- Maple Duplex: only 41% of time entries have evidence attached.
This tool is for recordkeeping and tax planning support only. It does not determine whether a taxpayer qualifies for Real Estate Professional Status, material participation, non-passive loss treatment, or any deduction. Qualification depends on facts and circumstances and should be reviewed with a CPA or tax advisor.
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