passive loss

A loss, with limited tax deductibility, from an activity in which the taxpayer does not materially participate, from a rental activity, or from a tax-shelter activity. [Cases: Internal Revenue 3418. C.J.S. Internal Revenue § 199.]
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双语律师Pablo,国际知名法学院法律专业,擅长翻译涉及高端品牌及消费品领域的法律文件。
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