True/False
Once an activity has been classified as passive,it is considered passive with regard to that taxpayer until it is sold.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q102: In the current year,Marcus reports the
Q103: Rex has generated $150,000 of AGI this
Q104: Material participation by a taxpayer in a
Q105: A taxpayer may deduct suspended losses of
Q106: When applying the limitations of the passive
Q107: Lucia owns 100 shares of Cronco Inc.which
Q108: Jeff owned one passive activity.Jeff sold the
Q110: Jarrett owns a mountain chalet that he
Q111: All of the following are true of
Q112: A single taxpayer earns $500,000 of salary