Kathy, Who Qualifies as a Real Estate Professional, Owns an Apartment

question 78

True/False

Kathy, who qualifies as a real estate professional, owns an apartment building and devotes 550 hours to managing the activity. All losses from the rental activity will be considered nonpassive and deductible against active income.

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Definitions:

Climax Of The Sixties

A term potentially referring to the peak of significant cultural, social, and political movements during the 1960s, including civil rights, counterculture, and anti-war protests.

Feminine Mystique

A term popularized by Betty Friedan's 1963 book, describing the dissatisfaction among women in the 1950s and 1960s with the limited role of housewife and mother imposed on them by society.

Cuban Missile Crisis

Tense confrontation caused when the United States discovered Soviet offensive missile sites in Cuba in October 1962; the U.S-Soviet confrontation was the Cold War’s closest brush with nuclear war.

Hart-Celler Act

A 1965 United States immigration law that abolished national origin quotas, significantly altering American immigration policy.