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Mortgage Loan Brokers and Passive Real Estate Losses

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A Mortgage Loan Broker does not meet the requirements under Section 469(c)(7) that allow a Real Estate Professional to treat current Rental Losses as nonpassive. While 'Brokerage' is listed in Section 469, it refers to 'real property' brokerage, not loan brokerage. Loan brokers are involved in the purchase and sale of loans, not real property. Likewise, real estate attorneys and accountants are not in a real property trade or business.

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