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Which of the following statements regarding passive income and losses is false? Passive income includes interest, dividends, and capital gains because the taxpayer is not

Which of the following statements regarding passive income and losses is false? Passive income includes interest, dividends, and capital gains because the taxpayer is not materially participating in the production of income. Passive losses can only offset other types of passive income. Passive income includes all rental income in which the taxpayer does not materially participate Passive income includes interest in pass thru entities (partnerships) in which the taxpayer does not materially participate

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