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Unformatted text preview: geothermal deposits, oil and gas resources, and any activity that is R&D. For example, if one was to explore for oil in a remote area could deduct the At-Risk loss. Reference Willis, E., Hoffman, W., Maloney, D., & Raabe, W. (2010) South-Westerns Federal Taxation: Comprehensive Volume (33rd ed.). Mason, OH: South-Western Cengage Learning. Klasser, J.D. "Loss Restrictions: Passive Activities and At-Risk Limits" Retrieved 24th April 2011. http://www.klasser.com/WileyCDA/Section/Loss-Restriction-Passive-Activities-and-At-Risk-Limits.id-310498.html Webtax. "Can I take a tax deduction for a passive activity loss on my tax return. Retrieved 24th April 2011. http://www.wwwebtax.com TurboTax. "Real Estate tax and Rental Property" Retrieved 24th April 2011. http://www.turbotax.intuit.com/tax-tools/tax-tips/investments-and-rental-property...
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- Spring '11