Business, 02.11.2019 05:31 gracetay6873

During the current year, ethan performs personal services as follows: 800 hours in his information technology consulting practice, 625 hours in a real estate development business, and 510 hours in a condominium leasing operation. he expects that losses will be realized from the two real estate ventures while his consulting practice will show a profit. ethan files a joint return with his wife whose salary is $125,000. the income and losses from the following ventures is considered active and not subject to the passive loss limitations:
a. only the information technology consulting practice.
b. only the information technology consulting practice and the real estate development business.
c. only the information technology consulting practice and the condominium leasing operation.
d. all three of the ventures are considered active and not subject to the passive loss limitations.
e. none of the above.

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