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EA Part 2 > Specialized Returns > Flashcards

Specialized Returns Flashcards

1
Q

A taxpayer is classified as a real estate professional if (must meet both):

A
  1. More than 1/2 of all activities in the year were real estate activities.
  2. More than 750 hours.
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2
Q

Can taxpayers deduct a loss from renting a personal residence?

A

No

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3
Q
A
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EA Part 2 (3 decks)

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