A qualified real estate professional is allowed to treat income or loss from any real estate venture as active except for income or loss from a rental activity.

true or false

In the current year, Kelsey had a $35,000 loss from a real estate rental activity in which she is a 10% owner. If she is an active participant and if her modified AGI is $100,000 or less, she can deduct $25,000 of the loss.

true or false