An S Corporation Shareholder's Allocable Share of Business Income That

question 65

True/False

An S corporation shareholder's allocable share of business income that is a passive activity is considered net investment income for purposes of the Net Investment Income tax.

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Definitions:

Nonviolent Drug Offenses

Legal violations involving the possession, use, or distribution of drugs that do not involve violence or the threat of violence.

War on Drugs

A campaign of prohibition and foreign military aid and military intervention undertaken by the U.S. government with the aim of reducing the illegal drug trade.

Drug Trafficking

The illegal trade involving the cultivation, manufacture, distribution, and sale of substances subject to drug prohibition laws.

Racial Stereotypes

Generalized beliefs or assumptions about the characteristics, attributes, and behaviors of members of a particular race, often leading to simplistic and erroneous judgements.