passive activity credit
Defined in 1 place of the United States Code.
The term “passive activity credit” means the amount (if any) by which—
(A) the sum of the credits from all passive activities allowable for the taxable year under—
(i) subpart D of part IV of subchapter A, or
(ii) subpart B (other than section 27(a)) of such part IV, exceeds
(B) the regular tax liability of the taxpayer for the taxable year allocable to all passive activities.
Source
- 2013–201826 U.S.C. § 469Internal Revenue Code · Passive activity losses and credits limited · for purposes of this section
The term "passive activity credit" means the amount (if any) by which—
(A) the sum of the credits from all passive activities allowable for the taxable year under—
(i) subpart D of part IV of subchapter A, or
(ii) subpart B (other than section 27(a)) of such part IV, exceeds
(B) the regular tax liability of the taxpayer for the taxable year allocable to all passive activities.
For purposes of this section—
Source
- 1994–201826 U.S.C. § 469Internal Revenue Code · Passive activity losses and credits limited · for purposes of this section
The term “passive activity credit” means the amount (if any) by which—
(A) the sum of the credits from all passive activities allowable for the taxable year under—
(i) subpart D of part IV of subchapter A, or
(ii) subpart B (other than section 27) of such part IV, exceeds
(B) the regular tax liability of the taxpayer for the taxable year allocable to all passive activities.
Source
- 2018–present26 U.S.C. § 469Internal Revenue Code · Passive activity losses and credits limited · for purposes of this section
The term "passive activity credit" means the amount (if any) by which—
(A) the sum of the credits from all passive activities allowable for the taxable year under—
(i) subpart D of part IV of subchapter A, or
(ii) subpart B (other than section 27) of such part IV, exceeds
(B) the regular tax liability of the taxpayer for the taxable year allocable to all passive activities.
For purposes of this section—
Source
- 2018–202226 U.S.C. § 469Internal Revenue Code · Passive activity losses and credits limited · for purposes of this section