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Make passive activity (PAL) active with material participation
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Make passive activity (PAL) active with material participation
Make passive activity (PAL) active with material participation
Submitted by Intuit Tax Advisor Team on 02-14-2023 07:40 PMIf a taxpayer materially participates in an otherwise passive activity, the character of the income shifts from passive to active income thus allowing the taxpayer to deduct losses from the activity against ordinary income.
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