former passive activity
Defined in 1 place of the United States Code.
The term “former passive activity” means any activity which, with respect to the taxpayer—
(A) is not a passive activity for the taxable year, but
(B) was a passive activity for any prior taxable year.
Source
- 2013–present26 U.S.C. § 469Internal Revenue Code · Passive activity losses and credits limited · for purposes of this section
The term "former passive activity" means any activity which, with respect to the taxpayer—
(A) is not a passive activity for the taxable year, but
(B) was a passive activity for any prior taxable year.
If during the taxable year a taxpayer disposes of his entire interest in any passive activity (or former passive activity), the following rules shall apply:
Source
- 1994–202226 U.S.C. § 469Internal Revenue Code · Passive activity losses and credits limited · for purposes of this section