Which of the following is considered nonpassive income? 1)Ordinary income a limited partner receives...
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Accounting
Which of the following is considered nonpassive income?
1)Ordinary income a limited partner receives from a partnership they only invested in and do NOT participate in.
2)Rental income from a non-real estate professional. 3)Income from a trade or business in which the taxpayer does not materially participate.
4)Portfolio income: Interest, dividends, annuities, and royalties.
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