passive activity loss
Defined in 1 place of the United States Code.
The term “passive activity loss” means the amount (if any) by which—
(A) the aggregate losses from all passive activities for the taxable year, exceed
(B) the aggregate income from all passive activities for such year.
Source
- 1994–present26 U.S.C. § 469Internal Revenue Code · Passive activity losses and credits limited · for purposes of this section