A trustee of a testamentary trust owns title to an apartment complex. The trustee also owns title
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A trustee of a testamentary trust owns title to an apartment complex. The trustee also owns title to nine other apartment complexes in his individual name, not the name of the trust. While the trustee devotes virtually every day to managing these ten properties, he has a staff of ten people who assist him. The apartment complex that the trust owns generates a $600,000 loss for the tax year in question. on the basis of these facts, would the loss generated be deemed active or passive?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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