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Question Content Area David owns a rental property that incurs $18,000 of losses for the...

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Accounting

Question Content Area

David owns a rental property that incurs $18,000 of losses for the year ending December 31, 2021. David materialy participates in managing the property. David files a joint return and his MAGI is $85,000. David can use the $18,000 loss to offset his ordinary income, even though he is not a real estate profesional.

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True False

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