Week 5 – Income Tax Planning

Select any five you would like from chapter 14 in the book to answer and provide your answer with a narrative explanation. {[These are the 5 questions I selected to answer.]} Even if you can answer the question as yes/no or in one word, explain how you arrived at the answer. You can choose five total questions from any of the available discussion questions at the end of these chapters. When you are submitting your answers, type the full question rather than referencing the chapter and question number. 1. Explain to whom the passive activity loss rules do and do not apply. 2. Name and describe the three types of income? 3. What is the basis limitation? 4. What is real estate professional’s exception? 5. What is the individual investor exception?
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