Determining a Member?s Participation in LLC Activities

Any trade or business activity of an LLC in which a member materially participates is not considered a passive activity. Material participation is a year-by-year determination.

Source: http://feedproxy.google.com/~r/AICPA_TaxAdvisor/~3/nVNDiiiW-9s/casestudy_feb2013.aspx

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