Bruce Owns a Small Apartment Building That Produces a $25,000

question 32

True/False

Bruce owns a small apartment building that produces a $25,000 loss during the year.His AGI before considering the rental loss is $85,000.Bruce must be a material participant with respect to the rental activity in order to deduct the
$25,000 loss under the real estate rental exception.

---

Definitions:

Thank You

A polite expression of gratitude.

Safekeeping

The act of protecting something from harm or loss, ensuring its preservation and security.

Additional Copy

A duplicate or extra version of a document, file, or item, created as a backup or for distribution to additional recipients.

Outlook

A personal information manager software system from Microsoft, primarily used as an email application.