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1. (TCO E) Which of the following is not a passive activity?
Owning a business and not materially participating
Having rental condos
Owning a limited partnership interest in a real estate limited partnership
Owning a working interest in oil and gas properties
Solution
Owning a working interest in oil and gas properties since working interest is excluded from
passive activity

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1. (TCO E) Which of the following is not a passive activityOwning.pdf

  • 1. 1. (TCO E) Which of the following is not a passive activity? Owning a business and not materially participating Having rental condos Owning a limited partnership interest in a real estate limited partnership Owning a working interest in oil and gas properties Solution Owning a working interest in oil and gas properties since working interest is excluded from passive activity