Bruce owns a small apartment building that produces a $25,000 loss during the year. His AGI before considering the rental loss is $85,000. Bruce must be a material participant with respect to the rental activity in order to deduct the $25,000 loss under the real estate rental exception.
Answer the following statement true (T) or false (F)
False
Rationale: Bruce must actively participate (i.e., not materially participate) in the rental activity in order to deduct the $25,000 loss.
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