When Applying the Limitations of the Passive Activity Rules,a Taxpayer's

question 106

True/False

When applying the limitations of the passive activity rules,a taxpayer's AGI is classified into active income,portfolio income and passive income.For this purpose,portfolio income includes dividends,interest,annuities,and royalties.

---

Definitions:

Potassium Tert-butoxide

A strong, non-nucleophilic base used in organic synthesis to deprotonate compounds.

Major Product

The substance that is formed in the greatest amount during a chemical reaction, indicating the most favored pathway.

Boiling Point

The temperature at which a substance transitions from the liquid phase to the gas phase under atmospheric pressure.

Cis-

A prefix that indicates substituents are located on the same side of a double bond or ring structure.