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Which of the following is not a requirement for a married couple business to be considered a qualified joint venture for purposes of treating the

Which of the following is not a requirement for a married couple business to be considered a qualified joint venture for purposes of treating the business as two separate proprietorships, rather than as a partnership?

The only members of the venture are the spouses.

Both spouses must materially participate.

Both spouses must affirmatively elect such treatment.

The venture must primarily be for holding investment property.

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