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loss
(redirected from Passive income)

    Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Wikipedia, Hutchinson 0.02 sec.
loss
1. Electronics a measure of the power lost in an electrical system expressed as the ratio of or difference between the input power and the output power
2. at a loss at less than the cost of buying, producing, or maintaining (something)
loss [lȯs]
(communications)
transmission loss
(engineering)
Power that is dissipated in a device or system without doing useful work. Also known as internal loss.
(jargon)loss - Something (not a person) that loses; a situation in which something is losing. Emphatic forms include "moby loss", and "total loss", "complete loss". Common interjections are "What a loss!" and "What a moby loss!" Note that "moby loss" is OK even though **"moby loser" is not used; applied to an abstract noun, moby is simply a magnifier, whereas when applied to a person it implies substance and has positive connotations.

Compare lossage.


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? Mentioned in ? References in periodicals archive
 
In other words, if rental of the property to the LLC generates passive income for the member, the income will be recharacterized as nonpassive (to be offset by the member's share of the nonpassive LLC rental expense deduction).
Renting property to an LLC by Ellentuck, Albert B. / The Tax Adviser
IRC section 469 generally disallows a deduction in the current year for the amount by which taxpayers' losses from passive activities exceed their passive income; instead, such losses can be carried forward and offset against passive income in future years.
Extraordinary personal services exception by Reichert, Charles J. / Journal of Accountancy
C corps with assets that are significantly appreciated (especially last-in, first-out, or LIFO, inventory), and those with significant passive income can trigger special S corporation-level taxes upon S corp conversion or immediately thereafter (such as LIFO recapture, built-in gains and excess passive income taxes).
C corps vs. S corps: how tax law changes may prompt switching by Smith, Greg W. / Financial Executive
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