Examlex
In the presence of oxygen, the three-carbon compound pyruvate can be catabolized in the citric acid cycle. First, however, the pyruvate (1) loses a carbon, which is given off as a molecule of CO2, (2) is oxidized to form a two-carbon compound called acetate, and (3) is bonded to coenzyme A.
-These three steps result in the formation of
Active Participation
In tax terms, a level of involvement by a taxpayer in managing an investment property that qualifies them for certain tax benefits.
Rental Offset
A financial mechanism where rental income is used to offset or reduce mortgage payments, expenses, or other financial obligations related to the rental property.
Passive
Referring to income generated from activities in which the individual is not actively involved, often subject to different tax rules.
Recourse Liabilities
Debts for which the borrower is personally liable, meaning creditors can pursue the borrower's other assets if the collateral does not cover the debt.
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