Edward C. and Susan R. Hanna - Page 9

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          employee.  Putoma Corp. v. Commissioner, 66 T.C. 652, 673 (1976),           
          affd. 601 F.2d 734 (5th Cir. 1979); Fowler v. Commissioner, T.C.            
          Memo. 2002-223.  In the case of a joint return, the same spouse             
          must satisfy each requirement.  Sec. 469(c)(7)(B).                          
               In the present case, the parties agree that petitioners’               
          rental activities constituted a real property trade or business             
          and that Mr. Hanna was not a real estate professional.  They                
          dispute whether Mrs. Hanna qualified as a real estate                       
          professional.  Accordingly, we focus on whether Mrs. Hanna’s                
          participation in the rental activities meets the requirements of            
          section 469(c)(7)(B).                                                       
               Section 1.469-5T(f)(4), Temporary Income Tax Regs., 53 Fed.            
          Reg. 5727 (Feb. 25, 1988), provides:                                        
               The extent of an individual’s participation in an                      
               activity may be established by any reasonable means.                   
               Contemporaneous daily time reports, logs, or similar                   
               documents are not required if the extent of such                       
               participation may be established by other reasonable                   
               means.  Reasonable means for purposes of this paragraph                
               may include but are not limited to the identification                  
               of services performed over a period of time and the                    
               approximate number of hours spent performing such                      
               services during such period, based on appointment                      
               books, calendars, or narrative summaries.                              
          This Court has acknowledged that these temporary regulations are            
          somewhat ambiguous concerning the records a taxpayer needs to               
          maintain, but we have held that they do not allow a post-event              
          “ballpark guesstimate”.  Fowler v. Commissioner, supra; Goshorn             
          v. Commissioner, T.C. Memo. 1993-578.                                       
               Mrs. Hanna did not keep a contemporaneous log of the time              

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