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t tonstituts a passive activity unat CuiStltute 11. What is the significance of the term material participation? Why is the extent of a taxpayer's participation

t tonstituts a passive activity unat CuiStltute 11. What is the significance of the term material participation? Why is the extent of a taxpayer's participation in an activity important in determining whether a loss from the activity is deductible or nondeductible? 12. Thomas has investments in three nassive actiitior with

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