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operated their rental activities from their home in Weston,
Massachusetts. Petitioners received on-site assistance from
George Veillette, a Sanibel resident and real estate agent who
sold petitioners their first two rental properties. Mr.
Veillette periodically checked the properties when they were
vacant to make sure the premises were secure, and the water and
heat systems were functioning. He also supplied keys to
repairmen and, on rare occasions, to renters. Mr. Veillette
estimated he spent a total of approximately 6 hours a month
looking after the properties.
Although petitioners both spent time on the rental
activities, Mrs. Hanna performed the majority of the work. She
designed and constructed one or more Internet Web sites to help
advertise the properties, designed and placed advertisements in
newspapers, responded to e-mails from prospective customers, and
performed a number of other tasks. Petitioners traveled to
Florida five times in 2000, spending a total of approximately 5
weeks there. During their visits petitioners looked for
additional properties to buy, met potential customers, and
arranged for cleaning, maintenance, and repairs for their
existing properties.
In addition to managing their rental activities in 2000,
both petitioners worked full time in the Boston, Massachusetts,
metropolitan area. Mr. Hanna worked as a project manager for
Fidelity Investments, earning a salary of $125,371 for
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Last modified: May 25, 2011