The House July 2 passed the Revenue Act of 1992 (H.R. 11) that includes a provision permitting passive loss deductions for real estate investors who materially participate in the management of the investment property (see The Mortgage Marketplace, July 6, page 3). Following is the explanation and justification of the provision contained in the House Ways and Means Committee report (H. Rept. 102-631, page 39) on the measure.

Current Law

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