Passive Activity Credit Law & Legal Definition
“The term 'passive activity credit' means the amount (if any) by which--
(A) the sum of the credits from all passive activities allowable for the taxable year under--
(i) subpart D of part IV of subchapter A [26 USCS §§ 38 et seq.], or
(ii) subpart B (other than section 27(a)) of such part IV [26 USCS §§ 27 et seq. (other than 26 USCS § 27(a)], exceeds
(B) the regular tax liability of the taxpayer for the taxable year allocable to all passive activities.” (26 USCS § 469)
Legal Definitions
Search Definitions
Get a Term Defined
- Request a legal definition! Submit a term you need defined.
- » Request Legal Definition
Submit a Definition
- Submit a Definition Help us build our database. Free listings for attorneys.
- » Submit a Definition
Help Build USLegal
- Join our Team and help build USLegal. Many opportunities for participation so Join our Network.
Build USLegal
Read a Law Digest
- Need to read the law or find an answer to a legal question? Visit our Law Digest for the largest selection of law digests and answers available.
Go to Law Digest
Form Packages
- Select from our most popular legal form packages.
- » Bankruptcy
- » Contract for Deed
- » Divorce
- » Employment Packages
- » Home Sales
- » Incorporation
- » LLC Formation
- » Landlord Tenant
- » Mutual Wills
- » Name Change
- » Personal Planning
- » Partnerships
- » View All Packages
Legal Life
- Organize your legal life today! View our free online guide to creating a Life Documents File and related products.
- » Life Documents File
- » Personal Planning Package
- » Life Documents Packages
- » New Parents
- » Newlyweds
- » Baby Boomers
- » Military
- » Other
Form Drafting
- Can′t find the form you need, or need a form we offer revised for your situation? Submit your request and our attorneys will review the request and let you know if the form can be provided.
Submit a drafting request...
