Examlex
Like Word, Excel allows you to work with styles.
Ordinary Loss
A loss derived from normal business operations or transactions that is not classified as a capital loss.
Passive Activity
Passive activity involves business or trade activities in which the person is not actively involved, affecting how losses and income are treated for tax purposes.
Suspended Losses
Losses that cannot be deducted in the current year and must be carried forward to future years for deduction under certain tax rules.
Actively Participated
Actively Participated refers to a taxpayer's involvement in the operations and decision-making of an investment or business activity, which may affect tax treatment.
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