A Passive Activity Includes Any Rental Activity or Any Trade

question 92

True/False

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

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Definitions:

Influence Behavior

The ability to affect the actions, decisions, or thinking of others through persuasion, example, or force of presence.

Social Roles

The parts individuals play as members of a social group, which meet the expectations of society.

Accumulated Wealth

The total value of financial and material assets owned by an individual or entity, amassed over time.

Responsibilities

Duties or tasks that an individual is required or expected to carry out, often associated with a specific role or position.