Examlex
Healthmode,a personal health care company,has just developed a new type of skin lotion that it claims is much more effective at healing dry skin than competing brands.One way it could improve the rate of diffusion of this new product is to allow consumers to try out small samples.
Material Participation
Active involvement in the operations of a business or trade, as defined by the IRS, to qualify for certain tax benefits.
Trade or Business
An activity conducted for the production of income from selling goods or performing services, differentiating from investment or leisure activities for tax purposes.
Schedule K-1
A tax document used in the United States to report an individual's share of income, deductions, credits, etc., from partnerships, S corporations, or other pass-through entities.
Schedule E
A part of the IRS tax forms used for reporting income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.
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