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Real estate investment trusts: 1) allow income to be passed through to investors, but not net losses. 2) allow investors to deduct net losses

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Real estate investment trusts: 1) allow income to be passed through to investors, but not net losses. 2) allow investors to deduct net losses from their personal tax returns, but not income shelters. 3) are less liquid than limited partnerships. 4) none of the above.

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