passive activity

passive activity. Tax. A business activity in which the taxpayer does not materially participate and therefore does not have immediate control over the income. • A typical example is the ownership and rental of real property by someone not in the real-property business. [Cases: Internal Revenue 3418. C.J.S. Internal Revenue § 199.]

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词条贡献者

译员黎川，在一家顶尖澳洲律师事务所的上海办公室担任全职法律翻译，擅长翻译涉及工业与制造业领域的法律文件。