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Q1.- After separating passive activities into rental real estate and other passive activities, which step must be completed next to determine the allowable losses when
Q1.- After separating passive activities into rental real estate and other passive activities, which step must be completed next to determine the allowable losses when a taxpayer has multiple passive activities?
A.- Figure the allowable loss from other passive activities.
B.- Figure the allowable loss from rental real estate activities with active participation.
C.- Figure the income or loss from each separate activity in the usual manner.
D.- Figure the allowable loss from rental real estate activities with significant participation.
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