Examlex
As a result of the superb economics essay that you wrote during this quarter,you won the Adam Smith prize of $100.The receipt of these funds would be an example of
Passive Activity
Financial activities in which the taxpayer does not materially participate, often generating passive income or losses for tax purposes.
Rental Losses
Financial losses incurred from renting out property, often deductible under specific conditions on a taxpayer's return.
Active Income
Earnings received from direct labor or active business activities, as opposed to passive income from investments.
Portfolio Income
Income from investments, including dividends, interest, and capital gains, excluding active business income.
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