What special passive activity loss treatment is available to real estate activities?
The special passive activity loss rules available to real estate activities allow the deduction of all or part of real estate rental losses against active or portfolio income, even though the activity otherwise is defined as a passive activity. The special rules are available in two situations:
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Losses from real estate rental activities are not treated as passive activity losses for certain qualifying real estate professionals.
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Qualifying individuals may deduct up to $25,000 of losses from real estate rental activities against active and portfolio income. The potential annual $25,000 deduction is reduced by 50 percent of the taxpayer's AGI in excess of $100,000.
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a. True b. False Indicate whether the statement is true or false
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A. are also called loop layouts. B. encourage impulse purchasing. C. are used by specialty stores. D. are one of the most aesthetically pleasing designs. E. are cost-efficient.
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Answer the following statement true (T) or false (F)
Recurring short-term liabilities such as wages and taxes that change spontaneously with operations are known as:?
A. ?trade credits. B. ?accruals. C. ?promissory notes. D. ?lines of credit. E. ?commercial paper.