Wayne owns a small apartment building that produces a $45,000 loss during the year. His AGI before considering the rental loss is $85,000. Because Wayne is an active participant with respect to the rental activity, he may deduct the $45,000 loss. true or false

A suspended passive loss may not be deducted when the property is sold.

true or false

Taxpayers who have passive losses generally benefit by having profitable activities classified as active so that passive losses can offset active income.

true or false

If an individual taxpayer materially participates in a nonrental trade or business activity, any loss from that activity is treated as an active loss that can offset active or portfolio income.

true or false