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Question 1 of 55. Which of the following statements is TRUE regarding the income or loss from two or more PTPs? The income or loss

Question 1 of 55.

Which of the following statements is TRUE regarding the income or loss from two or more PTPs? The income or loss from two or more PTPs is:

Never combined, or combined with any other passive activity.

Always combined, but never combined with any other passive activity.

Never combined, but it is netted against other passive activity.

Always combined, and always combined with other passive activity

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