John, an engineer, operates a separate business that he acquired eight years ago. If he participates 85

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John, an engineer, operates a separate business that he acquired eight years ago. If he participates 85 hours in the business and it incurs a loss of $34,000, under what circumstances can John claim an active loss?

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South Western Federal Taxation Individual Income Taxes 2017

ISBN: 9781305873988

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen

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Question Posted: May 25, 2015 06:21 AM

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John, an engineer, operates a separate business that he acquired eight years ago. If he participates 85

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John is entitled to treat the loss as active if his particip...View the full answer

South Western Federal Taxation Individual Income Taxes 2017

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