Multiple Choice
Which of the following people is currently engaged in a trade or business?
I.Barry spends 4 hours a day 5 days a week managing his investment portfolio. He watches the market and buys and sells securities when he thinks the market is right. His investment strategy is to realize income from dividends and long-term gains from holding investments for appreciation in value.
II.Jennifer is a full-time realtor, and she owns a house that she rents to Barry and his family for $900 a month. Jennifer provides for the repairs and maintenance of the house, and she stops by monthly to collect the rent and visit with Barry and his family.
A) Only statement I is correct.
B) Only statement II is correct.
C) Both statements are correct.
D) Neither statement is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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