Investment income can include gross income from interest, dividends, annuities, and royalties not derived in the ordinary course of a trade or business; income from a passive activity; and income from a real estate activity in which the taxpayer actively participates.
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Q23: Bob realized a long-term capital gain of
Q24: Lucy owns and actively participates in the
Q25: Wayne owns a small apartment building that
Q26: During the current year, David earned investment
Q27: Joyce owns an activity (not real estate)
Q29: Individuals can deduct from active or portfolio
Q30: Carlos receives a gift of a passive
Q31: Services performed by an employee are treated
Q32: Kim dies owning a passive activity with
Q33: A qualified real estate professional is allowed
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