The IRC require income/loss items to be separated into two categories: active income/loss and passive income/loss.
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Q13: Two equal partners involved in a passive
Q14: An equipment leasing activity is not subject
Q15: The general rule concerning passive losses is
Q16: To be considered a material participant in
Q17: The Tara Partnership (not involved in real
Q19: A loss must first be allowed under
Q20: If a taxpayer disposes of a passive
Q21: What form must a taxpayer file if
Q22: Paul invests $10,000 cash in an
Q23: Which of the following decreases a taxpayer's
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