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Which of the following sources of rental income will be considered passive? A bed and breakfast where the taxpayer provides personal care items, daily cleaning
Which of the following sources of rental income will be considered passive?
A bed and breakfast where the taxpayer provides personal care items, daily cleaning services, and breakfast.
A single-family home where the taxpayer makes management decisions regarding tenants and expenses.
A single-family home where the taxpayer purchased and renovated the property with the intention of making a quick profit.
A vehicle where the taxpayers provide no personal services and do not participate in the activity.
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