Question: Which step must be completed first to determine the allowable losses when a taxpayer has multiple passive activities? Figure the allowable loss from other passive

Which step must be completed first to determine the allowable losses when a taxpayer has multiple passive activities? Figure the allowable loss from other passive activities. Figure the allowable loss from rental estate with active participation. Figure the income or loss from each separate activity in the usual manner. Figure the allowable loss from rental real estate activities with significant participation.

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