PASSIVE ACTIVITY
This refers to an activity where taxpayers don’t materially participate during the tax year. The Internal Revenue Service or IRS describes two kinds of passive activity.
- A business or trade activities not materially participated in
- A rental activities even if the taxpayer materially participated in them, unless the taxpayer is a real estate professional.
IRS describes material participation as an involvement in the business activity on a regular, substantial, and continuous basis.
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ECONOMIC CALENDAR
Time | Country | Indices | Period |
---|---|---|---|
07:00 | Leading Indicators | Jan | |
07:00 | Leading Indicators | Jan | |
13:00 | CBI retail sales volume balance | Mar | |
13:00 | CBI retail sales volume balance | Mar | |
14:25 | FOMC Member Raphael W. Bostic Speaks | ||
14:25 | FOMC Member Raphael W. Bostic Speaks | ||
16:00 | New Home Sales | Feb | |
16:00 | New Home Sales | Feb | |
01:30 | Westpac Consumer Sentiment | Mar |