Question: The passive activity loss rules contain _ _ _ _ _ exception ( s ) related to real estate activities. These exceptions allow all or

The passive activity loss rules contain _____ exception(s) related to real estate activities. These exceptions allow all or part of real estate rental losses to offset active or portfolio income even though the activity otherwise is defined as a passive activity.
a. Zero
b. Three
c. One
d. Four
e. Two

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