These glossary posts are intended to be an expansion on the brief definitions given in this website’s “Glossary of Tax Terms.” Unfortunately, when talking about passive activities, it’s hard to expand on the topic without making a reader’s head spin. But here goes. As stated in the Glossary: “A passive activity is an investment activity […]
I had just completed all 3 installments of my HGTV “You Won the Dream Home” series and was satisfied with myself. It was a witty, informative series on a timely tax topic. And then one night I woke up and couldn’t get back to sleep because something was nagging at my mind. Specifically the Section […]
Passive activity rules can make seemingly deductible business losses nondeductible.