Elizabeth owns an interest in a dress shop that has three full-time employees; during the year, she

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Elizabeth owns an interest in a dress shop that has three full-time employees; during the year, she works 450 hours in the shop. Elizabeth also owns an apartment building with no employees in which she works 1,200 hours a year. Is either activity a passive activity? Explain.
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South Western Federal Taxation 2015

ISBN: 9781305310810

38th Edition

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

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