Question
Which of the following statements regarding determining an activity for purposes of the passive activities and at-risk rule are correct? (1) an activity for the
Which of the following statements regarding determining an activity for purposes of the passive activities and at-risk rule are correct?
(1) an activity for the at-risk rules is also necessarily an activity for the passive activity loss rules
(2) a passive activity is any activity that involves the conduct of a trade or business in which the taxpayer does not materially participate
(3) a passive activity does not include rental activity
(4) a taxpayer must group (aggregate) passive activities in the first year if the taxpayer wants to group them at any point in the future
a. | (1)and (2) only | |
b. | (2)and (3) only | |
c. | (2)and (4) only | |
d. | (3) and(4) only |
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