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What is the importance if any of passive activity

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When property is disposed of, what factors influence the amount of the deductible loss? Define.

What is the importance, if any, of passive activity?

Compare and contrast the computational rules for deducting casualty losses on personal-use property with casualty losses incurred on business or investment property. Define the difference. What are the limitations for both?

Reference no: EM131184554

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What is the importance if any of passive activity : What is the importance, if any, of passive activity? When property is disposed of, what factors influence the amount of the deductible loss? Define.
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