Janel owns five small businesses, each of which has its own manager and employees. Janel spends the
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Janel owns five small businesses, each of which has its own manager and employees. Janel spends the following number of hours this year working in the various businesses: Business A, 130 hours; Business B, 160 hours; Business C, 110 hours; Business D, 120 hours; Business E, 100 hours. Which of the following statements is correct?
a. Businesses A, B, C, D, and E are all significant participation activities.
b. Businesses A, B, C, and D are all significant participation activities.
c. Janel is considered a material participant in Businesses A, B, C, and D.
d. Both b and c are correct.
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Related Book For
Fundamentals Of Taxation 2019
ISBN: 9781260158670
12th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
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