WHICH PERSON WOULD GENERLLY BE TREATED AS A MATERIAL PARTICI

WHICH PERSON WOULD GENERLLY BE TREATED AS A MATERIAL PARTICIPANT IN AN ACTIVITY?

Multiple choice

1. A participant in a rental activity.

2. A limited partner.

3. A LLC member not involved with management of the LLC.

4. A general partner.

Answer is 4. A General Partner.

Explanation:

General partner is a person who takes active participation in the day to day matters of the business.