Once an Activity Has Been Classified as Passive,it Is Considered

question 109

True/False

Once an activity has been classified as passive,it is considered passive with regard to that taxpayer until it is sold.

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Definitions:

Permanent Cessation

The irreversible end of an activity, function, or existence; often used in reference to the cessation of biological life or specific bodily functions.

Heart Beat

The rhythmic expansion and contraction of the heart, which indicates the flow of blood through the body.

Traditional

Pertaining to customs, practices, and norms that have been passed down through generations within a specific culture or society.