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Which of the following is NOT characteristic of conflict theory?
Passive Losses
Financial losses from activities in which the taxpayer does not materially participate, such as rental property.
Portfolio Income
Income from investments, including dividends, interest, and capital gains.
Material Participant
An individual who is actively involved on a regular, continuous, and substantial basis in the operations of a business, affecting their tax treatment of losses.
Form 6198
An IRS form used by taxpayers to determine the amount of loss from an at-risk activity that is deductible.
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