Maryanne is the senior chef for Bistro 501 Restaurant. Discuss whether the following losses are affected by the passive activity rules.
a.Maryanne has a $4,500 loss from her ownership interest in a catfish-farm limited partnership. Maryanne is a limited partner.
b.Maryanne has a $7,000 loss from her ownership interest in a feeder-lamb limited partnership. Maryanne is a general partner and is responsible for day-to-day management decisions.
c.Maryanne has a $11,000 loss from her ownership of a low-income housing project.
d.Maryanne owns a rental house across the street from North Forest College and actively participates in managing the rental property. The rental property generates a loss of $5,000 for the current year.

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The Answer of Maryanne is the senior chef for Bistro 501 Restaurant. Discuss whether the following losses are affected by the passive activity rules.
a.Maryanne has a $4,500 loss from her ownership interest in a catfish-farm limited partnership. Maryanne is a limited partner.
b.Maryanne has a $7,000 loss from her ownership interest in a feeder-lamb limited partnership. Maryanne is a general partner and is responsible for day-to-day management decisions.
c.Maryanne has a $11,000 loss from her ownership of a low-income housing project.
d.Maryanne owns a rental house across the street from North Forest College and actively participates in managing the rental property. The rental property generates a loss of $5,000 for the current year.

Maryanne Is the Senior Chef for Bistro 501 Restaurant