PAL rules: definition of activity. (passive activity losses): An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on April 1, 1995. The length of the article is 673 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Final regulations under IRC section 469 identify what constitutes an activity for passive activity loss treatment and when may taxpayers use passive losses to offset nonpassive income. Multiple activities can be treated as one activity, allowing offset of income from the group of activities, if the multiple activities are seen as an economic unit. The IRS has the authority to regroup activities. If substantially all of a passive trade is disposed off, accumulated passive losses can be offset against gain on the sale and other income.

Citation Details
Title: PAL rules: definition of activity. (passive activity losses)
Author: John G. Schmalz
Publication:The Tax Adviser (Magazine/Journal)
Date: April 1, 1995
Publisher: American Institute of CPA's
Volume: 26 Issue: n4 Page: 205(2)

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