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Accounting
I need help with these problems. Can you explain with explanations?
QUESTION 5 Jim participates 110 hours in an activity, while an employee participates 7 hours. Jim has materially participated in the activity. True False QUESTION 6 Wall owns a building that produces a $28,000 loss during the year. His AGI before considering the rental loss is $84,000. Wall must actively participate with respect to the rental activity in order to deduct the $28,000 loss under the real estate rental exception True False
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