Norm is a real estate professional with a real estate trade or business as defined in the tax law. he has $80,000 of business income and $40,000 of losses from actively managed real estate rentals. how much of the $40,000 in losses is he allowed to claim on his tax return? a.$40,000

Which of the following best describes vertical integration? a. produce goods or services previously purchasedb. develop the ability to produce products that complement the original productc. develop the ability to produce the specified good more efficiently than befored. build long term partnerships with a few supplierse. sell products to a supplier or a distributor