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Glossary - relief provision applie portfolio income...

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Glossary Chapter 11 Active income Active income include taxpayer is a material business, and income creation of the proper categories with active At-risk limitation Under the at-risk rule amount the taxpayer the sum of the amoun for use in the activity activity. § 465. Closely held corporation A corporation where t corporate policy and Extraordinary personal services These are services pr the services. For exam This is one of the six Investment income Gross income from in business. Net capital dividend income norm capital gains as inves equivalent amount. A Investment interest Payment for the use o investment interest is Material participation If an individual taxpay is treated as an active any one of seven test Net investment income The excess of investm directly connected wit interest. The deductio Passive loss Any loss from (1) acti certain exceptions). N are suspended until t disposes of the under allows landlords who However, a phaseout
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Unformatted text preview: relief provision applie portfolio income . Personal service corporation (PSC) A corporation the prin architecture, accounti performed by the emp than realty (real estat includes such assets personalty includes s Portfolio income The term is relevant i passive in nature, for credits cannot be offs and certain royalties. Rental activity Any activity where pa Regulations provide t to be treated as renta Significant participation activity There are seven tests which is based on mo participation activity is 1.4695T. Tax shelters The typical tax shelte against other types o investments could the than ordinary income Glossary Chapter 12 ACE adjustment Alternative minimum tax (AMT) Alternative minimum tax credit Alternative tax NOL deduction (ATNOLD) AMT adjustments AMT exclusions Circulation expenditures Incentive stock option (ISO) Private activity bond Tax preferences...
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  • Spring '10
  • man
  • Taxation in the United States, alternative minimum tax, active income, services Investment income, investment income Passive, dividend income norm

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