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1. Individuals are allowed a maximum of of capital loss per year to offset ordinary income. a. $2,000 b. $2,500 c. $3,000 d. $4,000

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1. Individuals are allowed a maximum of of capital loss per year to offset ordinary income. a. $2,000 b. $2,500 c. $3,000 d. $4,000 2. The loss limitation on passive activities differs between individuals and corporations. a. True b. False

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