Passive Loss Rules
Rules passed as part of the tax reform act of 1986 that limit the amount of income investors can shelter from current tax. Losses can be deducted from passive activities only in the amount to which income results from passive activities. Furthermore, losses from one passive activity can be used only to offset the passive income earned from a similar passive activity. For example, losses from publicly traded partnerships can be applied only to offset passive income earned from publicly traded partnerships.
Popular Insurance Terms
Husband's interest in his wife's property upon her death. A husband has an insurable interest in that property and can purchase a property and casualty insurance policy to cover the ...
Payment under a state-sponsored program for victims of crimes. ...
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Value in life insurance policies that entitle the insured to these choices: to relinquish the policy for its CASH SURRENDER VALUE. (Note that in the beginning years the cash value may be ...
Rules passed as part of the tax reform act of 1986 that limit the amount of income investors can shelter from current tax. Losses can be deducted from passive activities only in the amount ...
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Premise that, out of a large group of people, a given number will die each year (conversely, a given number will remain alive each year) until all the people in that original group are ...
Payment for coverage that remains throughout the same premium-paying period. ...
Section of the insurance company that administers claims for the losses incurred by the insured. ...
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