Letter P
tax
Passive Activity Loss
A loss from a trade or business activity in which the taxpayer does not materially participate, subject to limitations restricting its use against active or portfolio income.
Related terms
More legal terms starting with P
Looking for citation help? How to cite law · Citation methodology
See also: Full glossary index
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.