=+considering the purchase of several apartment buildings for rental purposes. He believes the apartments would generate a tax loss of approximately $100,000 in each of the first three years, then operate profitably thereafter. Rick would like to use the tax losses for the first three years to reduce his personal income taxes. • Rick is also considering investment in a blueberry farm. He intends to purchase some farmland and turn it into a blueberry farm. The costs in the first year would be the land, equipment, blueberry plants, and labor to develop