Passive loss is the total amount of losses from a passive activity minus the total income from the passive activity.

Name: Passive loss is the total amount of losses from a passive activity minus the total income from the passive activity.
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Question

Quizplus · Accepted Answer

Passive loss occurs when the total expenses from a passive activity, such as rental property or a business in which the person does not actively participate, exceed the income generated from that activity.

Passive Loss Is the Total Amount of Losses from a Passive