Section 469h 2 material participation defined for

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Section 469(h)(2) Material Participation Defined for purposes of this section - (2) Interests in Limited Partnerships - Except as provided in regulations, no interest in a limited partnership as a limited partner shall be treated as an interest with respect to which a taxpayer materially participates.Section 469(h)(5) Material Participation Defined for purposes of this section - (5) Participation by spouse - in determining whether a taxpayer materially participates, the participation of the spouse of the taxpayer shall be taken into account..Section 469(i)(1)$25,000 Offset For Rental Real Estate Activites - (1) In General - In the case of any natural person, subsection (a) shall not apply to that portion of the passive activity loss or the deduction equivalent (within the meaning of subsection (j)(5)) of the passive activity credit for any taxable ear which is attributatble to all rental real estate activities with respect to which such individual actively participates in such taxable year (and if any portion of such loss or credit arose in anohter taxable year, in such other taxable year).
Passive Activity Losses and Credits LimitedPassive Activity Losses and Credits LimitedPassive Activity Losses and Credits LimitedSection 469(k)Passive Activity Losses and Credits LimitedCode SectionDescriptionSection 704(b)Partner's distributive shareCode SectionDescriptionSection 704(a) Passive Activity Losses and Credits LimitedPartner's distributive sharein such other taxable year).Section 469(i)(2) Material Participation Defined for purposes of this section - (2) Dollar Limitation - The aggregate amount to which paragraph (1) applies for any taxable year shall not exceed $25,000.Section 469(i)(3) Material Participation Defined for purposes of this section - (3) Phase-out of Exemption - (A) In General - In the case of any taxpayer, the $25,000 amount under paragraph (2) shall be reduced (but not below zero) by 50 percent of the amount by which the adjusted gross income of the taxpayer for the taxable year exceeds $100,000.Section 469(i)(6) Material Participation Defined for purposes of this section - (6) Active Participation - (A) In general - An individual shall not be treated as actively participating with respect to any interest in any rental real estate activity for any period if, at an time during such period, such interest (including any interest of the spose of the individual) is less than 1- percent (by value) of all interests in such activity.Separate Applications of Section In Case of Publicly Traded Partnership - (1) In General - This section shall be applied separately with respect to items attributable to each publicly traded partnership (and subsection (i) shall not apply with respect to items attributable to any such partnership). The preceding sentense shall not apply to any credit determined under Section 42, or any rehabilitation credit determined under Section 47, attributable to a publicly traded patnership to the extent the amount of any such credits exceeds the regularly tax liability attributable to income from such partnerhsip.

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