net active income
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 469 — for purposes of this section
For purposes of this paragraph, the term “net active income” means the taxable income of the taxpayer for the taxable year determined without regard to—
(i) any income or loss from a passive activity, and
(ii) any item of gross income, expense, gain, or loss described in paragraph (1)(A).