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ACC 343, Chapter 11

Across
A net capital loss in excess of the amount deductible is ____ ____ to the next tax year.
Section 465 contains the _____ ___ _____ rules.
To be treated as materially participating in an activity, how many of the tests listed in the Regulations under Section 469 does a taxpayer have to meet?
All _____ activities are treated as passive activities.
A taxpayer who expects a passive activity loss (PAL) needs a _____ _____ _____, which is also known as a PIG.
A taxpayer who meets the _____ _____ test may deduct a loss from rental real estate up to $25,000 a year against nonpassive income.
Interest, dividends, and annuities are examples of _____ income.
Income from a business activity in which a taxpayer does NOT materially participate is _____ _____ income.
Down
The deduction for investment interest paid is limited to the amount of the taxpayer's _____ _____ _____.
Section 469 contains the _____ _____ _____ rules.
The deduction for a ___ _____ _____ for an individual or married couple is limited to $3,000 per year.
A taxpayer may treat a loss on the sale of Section 1244 stock as an _____ _____ up to $50,000 ($100,000 on a joint return) per year.
The Regulations under Section 469 have ____ tests to determine if a taxpayer materially participated in an activity.
Income from a business activity in which a taxpayer materially participates is _____ income.
A loss on a real estate activity is treated as _____ if the taxpayer is a qualified real estate professional.