briannalove2909 briannalove2909

21-02-2024
Business

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Which of the following statements regarding the full or partial sale of a passive activity interest in a particular parcel of real estate is or are CORRECT
I. Suspended amounts and credits cannot be used when there is a partial sale.
II. Suspended amounts and credits may only be used to offset income for the current passive activity.
A. I only
B. II only
C. Both I and II
D. Neither I nor II

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