passive activity
Defined in 2 places of the United States Code.
Except as provided in paragraph (7), the term “passive activity” includes any rental activity.
Source
- 1994–present26 U.S.C. § 469Internal Revenue Code · Passive activity losses and credits limited · for purposes of this section
For purposes of this paragraph, the terms “activity”, “passive activity”, and “materially participate” have the meanings given such terms by section 469.
Source
- 1994–present26 U.S.C. § 163Internal Revenue Code · Interest · under this chapter
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.
Source
- 1994–present26 U.S.C. § 469Internal Revenue Code · Passive activity losses and credits limited · for purposes of this section