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passive activity loss

   Also found in: Dictionary/thesaurus, Medical, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
Passive Activity Loss (PAL)
A loss incurred in participating in passive investing.
Passive Activity Loss
A loss resulting from a passive investment. For example, rental income is considered passive; if a tenant does not pay his/her rent, this may be considered a passive income loss. Passive income losses may only offset passive income gains; they may not offset earned income. Furthermore, passive income loss may not be carried back; it may only be carried forward.
passive activity loss
The situation when expenses are greater than income from a passive activity.
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Also, depending on the nature of your investment in the business, your ability to deduct losses may be further limited by the passive activity loss rules or the at-risk rules.
Making the most of business losses in turbulent times by Wieder, Marc / Real Estate Weekly
Beginning in 1994, it frees most real estate professionals from passive activity loss suspension requirements.
Implications of the 1993 Tax Act for real estate investments by Friedman, Jack P. / Appraisal Journal
469(a) States that any individual, estate, trust, closely held corporation and personal service corporation will have all passive activity loss and passive activity tax credits disallowed for any taxable year.
Section 469 by Webster, Allison; Weld, Leonard G. / The National Public Accountant
 
 
 
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