If an Owner Participates for More Than 500 Hours in a Bicycle

question 62

True/False

If an owner participates for more than 500 hours in a bicycle rental activity located at a beach resort, any loss from that activity is treated as an active loss that can offset active income.

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Definitions:

Judicial Review

The power of courts to assess the constitutionality of legislative acts and governmental actions, and invalidate them if found unconstitutional.

Congressional Enactment

The process through which the U.S. Congress passes legislation into law.

Constitutionality

The quality of being in accordance with a country's constitution or being permissible under its supreme law.

Executive Order

An executive order is a directive issued by the President of the United States that manages operations of the federal government.