MLchartDataset catalogue

Passive loss

Term · Insurance and risk management · MLC-T-INS-002509

A financial loss incurred from business activities in which the taxpayer does not materially participate, such as rental activities or limited partnerships. These losses can only be deducted against passive income, not against active income like wages or portfolio income. Unused passive losses can be carried forward to offset passive income in future tax years.

Table 1. Record
IdentifierMLC-T-INS-002509
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002509",
  "term": "Passive loss",
  "field": "Insurance and risk management",
  "definition": "A financial loss incurred from business activities in which the taxpayer does not materially participate, such as rental activities or limited partnerships. These losses can only be deducted against passive income, not against active income like wages or portfolio income. Unused passive losses can be carried forward to offset passive income in future tax years.",
  "url": "https://mlchart.com/terminology/insurance/passive-loss/"
}

Record 2,510 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.