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help please Discussion Question 11-23 (LO. B) Since his college days, Charles has developed an entrepreneurial streak. After working in his family's grocery business, he

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Discussion Question 11-23 (LO. B) Since his college days, Charles has developed an entrepreneurial streak. After working in his family's grocery business, he starts several ventures on his own. Even though Charles is independently wealthy, he is looking forward to working in each of the ventures. He plans to "drop in" on the businesses from time to time between personal trips to Europe and the Caribbean. As of the end of the year, he has established computer software stores in Dayton (Ohio), Austin, and Seattle; bagel bakeries in Albany, Athens (Georgia), and Tallahassee; and mountain bike and ski rental shops in small towns in Vermont, West Virginia, Colorado, and California. Help Charles by identifying the items below as either "Yes, a tax issue" or "No, not a tax issue". a. Did Charles own any similar businesses in the past five years? > b. What is the best combination of grouping the ventures as one or more activities? c. Will Charles's involvement in any one or more of the activities be sufficient to support the classification of these businesses as active? d. Will the mountain bike and ski rental shops be classified as rental activities? e. Do the at-risk and passive activity loss rules apply? f. How will these investments be grouped as activities? Yes, a tax issue No, not a tax issue

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