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Passive Activity
What does it mean?
An activity from which you have the potential to profit but in which you do not physically participate.
In Other Words...
The income from rental properties is a good example of a passive activity. Making a distinction between passive and active income is important because you can claim a passive loss only against income generated from passive activities. You cannot claim a passive loss against active income.
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Related Terms
Active Income | Income | Passive Income | Portfolio Income
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