A Passive Activity I.includes an Interest in a Limited Partnership Held by a Held

question 61

Multiple Choice

A passive activity
I.includes an interest in a limited partnership held by a limited partner investor.
II.includes a working interest in an oil and gas deposit.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.