Examlex
Which of the following principles apply when performing a focused assessment of the abdomen? Select all that apply.
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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