Question: 1. Explain the difference(s) between rental activities and rental real estate activities. 2. Explain the difference between casualty and theft losses. 3. What happens when

1. Explain the difference(s) between rental activities and rental real estate activities.

2. Explain the difference between casualty and theft losses.

3. What happens when a passive activity is disposed of and has losses?

4. Explain the 7 tests used to determine material participation.

5. Explain how NOL deductions for casualties are calculated.

6. Explain the rules/limitations for deducting NOL.

7. Explain the rules/limitations for deductibility of home office deductions.

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