FTL$-40.$ Under the tax code, a taxpayer who actively participates in a rental real estate activity may be eligible for a special allowance to deduct passive losses. Which of the following statements is true regarding this allowance?

The allowance is only available to taxpayers who own at least $60\%$ of the rental property

To qualify for the allowance, a taxpayer cannot delegate tasks like repairs to others

The maximum allowance amount is phased out for taxpayers with a modified adjusted gross income $($MAGI$)$ exceeding $$150,000($or $$75,000$ if married filing separately$)$

The allowance is a maximum of $$25,000$ regardless of the taxpayer's filing status or income