What is the definition of Passive activity loss rules? | Dictionary.net

PASSIVE ACTIVITY LOSS RULES

\pˈasɪv aktˈɪvɪti lˈɒs ɹˈuːlz], \pˈasɪv aktˈɪvɪti lˈɒs ɹˈuːlz], \p_ˈa_s_ɪ_v a_k_t_ˈɪ_v_ɪ_t_i l_ˈɒ_s ɹ_ˈuː_l_z]\

Definitions of PASSIVE ACTIVITY LOSS RULES

1910 - Black's Law Dictionary (2nd edition)

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A regulation set by the IRS which forbits businesses to show losses that were incurred by passive activities on their balance sheets, so as to reduce the amount of taxes that htye would pay on the total income.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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