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
Information generated by the medical information bureau (MIB) and made available to member companies concerning medical information of applicants for life and health insurance. Member ...
Company not licensed by a particular state to sell and service insurance policies within that state. ...
Latin phrase meaning "beyond power or authority" describing an act by a corporation that exceeds its legal powers. For example, corporations do not have the authority to engage in the ...
Approved or accepted policy for a particular type of risk. The only type of risk covered by a standard form mandated by law is the fire policy. In 1886, New York adopted a standard fire ...
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Measurement of the response of the cash flow of an insurance company to various interest rate scenarios; for example, how rising interest rates will affect the number of life insurance ...
Acquisition and employment of assets in order to maximize the return on these assets through: establishment of financial planning objectives; development of financial plans by which these ...
Additional amount of surplus generated by an additional amount of capital to be included in book value surplus. This additional surplus is necessary to act as a supplement to the statutory ...
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