Question: Rick, a computer consultant, owns a separate business ( not real estate ) in which he participates. He has one employee who works part -
Rick, a computer consultant, owns a separate business not real estate in which he participates. He has one employee who works parttime in the business.
a If Rick participates for hours and the employee participates for hours during the year, Rick probably does not qualify as a material participant.
b If Rick participates for hours and the employee participates for hours during the year, Rick qualifies as a material participant.
c If Rick participates for hours and the employee participates for hours during the year, Rick qualifies as a material participant.
d If Rick participates for hours and the employee participates for hours during the year, Rick does not qualify as a material participant.
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