What is correct regarding limits on rental losses, Accounting Basics

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What is correct regarding limits on rental losses

Question: Which of the following is correct regarding limits on rental losses: a. all losses on rental real estate activity are deductible b. rental activities (except for those by real estate professionals) are passive activities c. a taxpayer can generally offset any income with losses from passive activities d. passive activity losses and credits cannot be carried forward to the next tax year

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Accounting Basics: What is correct regarding limits on rental losses

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