Question: Under Code Section 469 regulations, a limited exception to the passive loss limitation rules exists for some taxpayers who own rental property. Which of the

Under Code Section 469 regulations, a limited exception to the passive loss limitation rules exists for some taxpayers who own rental property. Which of the following is NOT one of the requirements for this exception? Group of answer choices The taxpayer does not need to actively participate in the rental activity. The exemption can apply up to $25,000 of net passive losses in the rental activity for the year. The taxpayer must own at least a 10% interest in the rental activity. The taxpayer's modified adjusted gross income may limit the amount of the exemption

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