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
Date of the initial annuity payment. ...
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Circumstance under which the insured maintains that, if an insurance policy covers at least two scheduled items of real or personal property, in the event of a loss applicable coverage ...
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Specific powers granted by the principal (the insurance company) to the agent in the contract. ...
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Premium income divided by the surplus account. ...
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