Zacarias Lapid and Ma Delaila Lapid - Page 13

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          related losses are not deductible.  Sec. 469(a)(1)(A).  Since the           
          petitioners’ real estate activities generated only passive                  
          losses,                                                                     
                                             A decision will be entered for           
                                        respondent.                                   

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Last modified: May 25, 2011