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Rental Unit Hours per Exhibits Hours per calendar
3-J and 4-P (maximum)
East 149th St. 119.57 110
Euclid Hgts Blvd. 120.81 80
Wickford Rd. 101.03 45
Continental 153.53 117
E. 97th 115.57 80
Parkhill 106.95 110
E. 131st 133.73 60
Parkgate 103.49 60
Woodstock 107.50 97
Total hours 1,062.18 759
Relying upon the entries in petitioner’s calendar, we find
that petitioner spent 759 hours performing personal services in
connection with her real estate trades or businesses in which she
materially participated during 2002.7 Because petitioner spent
at least 780 hours performing personal services as an employee of
Symantec during 2002 she does not qualify for the provisions of
section 469(c)(7). This means that section 469(c)(2) operates to
treat all of petitioner’s real estate activities as passive
activities regardless of whether she materially participated in
any of them.
It follows that under the provisions of section 469(a)
petitioner is not entitled to the rental loss deduction, and
respondent’s disallowance of that deduction is sustained.
7 Whether the hours listed for Woodstock, a property not
included on any of the Schedules E, should be taken into account
in the analysis is a moot question. The outcome remains the same
whether hours are included or ignored.
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Last modified: March 27, 2008