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Check for Understanding 1
Which of the following statements is TRUE regarding the rental losses sustained by real estate professionals who materially participate?
A
California conforms to the federal rules regarding the rental losses sustained by persons engaged in a real property business.
Under California law, these losses are nonpassive and may be deducted in full.
Under California law, real estate professionals may deduct up to the $25,000 loss and must carry forward any excess.
rcia, Julie
Form 3885A must be filed if there are losses from passive activities.

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