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A Passive Activity Includes Any Rental Activity or Any Trade

question 92

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A passive activity includes any rental activity or any trade or business in which the taxpayer does not materially participate.


Definitions:

Member

A term often used in engineering to refer to an individual component of a structure, machine, or mechanism that serves a specific function.

Back Weld

A welding technique where a weld is applied on the opposite side of a previously welded joint to ensure strength and integrity.

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