06/17/2026
Most investors don’t misuse REPS because they’re careless.
They misuse it because they’re focused on the wrong objective.
The question sounds reasonable:
“How do I qualify?”
But that’s not the question the Internal Revenue Service (IRS) is evaluating.
The real question is:
How are you operating as an investor?
REPS isn’t a switch you flip.
It either aligns with your structure…or it exposes it.