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(c)(7) provide that if its provisions apply to a taxpayer, real
estate rental activity will not be a passive activity, and each
of the taxpayer's interests in real estate rental will be treated
separately under the section. Sec. 469(c)(7)(A).
To qualify for treatment under section 469(c)(7), petitioner
must show that more than half the personal services he performed
in trades or businesses during 1994 were performed in real
property trades or businesses in which he materially
participated. Sec. 469(c)(7)(B)(i). In addition, petitioner
must show that he performed more than 750 hours of services
during the year in real property trades or businesses in which he
materially participated. Sec. 469(c)(7)(B)(ii).
The evidence shows that in 1994 petitioner spent substantial
time in the trades or businesses of teaching chemistry and
lending money. Aside from petitioner's vague testimony, the only
evidence of the amount of petitioner's personal services
performed in 1994 with respect to his real estate rental property
consists of two calendars that do not describe the amount of time
he spent related to the rental properties, either individually or
in the aggregate. See sec. 1.469-5T(f)(4), Temporary Income Tax
Regs., 53 Fed. Reg. 5727 (Feb. 25, 1988).
Because the evidence does not support the application of
section 469(c)(7) to petitioner and his real estate rental
activity in 1994, the Court concludes that he is not entitled to
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