### Question
How does METHODS OF ACCOUNTING define real property trade or business?


### Answer
Under *26 U.S.C. § 469*, **real property trade or business** is defined as:

> any real property development, redevelopment, construction, reconstruction, acquisition, conversion, rental, operation, management, leasing, or brokerage trade or business

#### Citation:
  - *26 U.S.C. § 469*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART II-METHODS OF ACCOUNTING > Subpart C-Taxable Year for Which Deductions Taken**

