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that is treated as a trade or business under section 469(c)(6).
Consequently, petitioner's rental activity at Crestwood will
constitute a passive activity under section 469(c)(1) for each of
those years if he did not materially participate in that activity
during each such year. See sec. 469(c)(1).
Section 469(h)(1) provides that generally an individual
shall be treated as materially participating in an activity only
if he or she is involved in the operations of the activity on a
basis that is regular, continuous, and substantial. Congress
expressly authorized the Secretary of the Treasury (Secretary) to
prescribe such regulations as may be necessary or appropriate to
carry out the provisions of section 469, including regulations
that specify what constitutes material participation. Sec.
469(l)(1).
Both temporary and final regulations relating to the meaning
of the terms "participation" and "material participation" have
been promulgated under section 469. With respect to the term
"participation", final regulations issued under section 469
provide that generally "any work done by an individual (without
regard to the capacity in which the individual does the work) in
connection with an activity in which the individual owns an
interest at the time the work is done shall be treated for pur-
poses of this section as participation of the individual in the
activity." Sec. 1.469-5(f)(1), Income Tax Regs. Temporary
regulations issued under section 469 provide certain exceptions
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