passive activity
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 163 — under this chapter
For purposes of this paragraph, the terms “activity”, “passive activity”, and “materially participate” have the meanings given such terms by section 469.
26 U.S.C. § 469 — for purposes of this section
The term “passive activity” means any activity—
(A) which involves the conduct of any trade or business, and
(B) in which the taxpayer does not materially participate.
26 U.S.C. § 469 — for purposes of this section
Except as provided in paragraph (7), the term “passive activity” includes any rental activity.