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 |
|---|---|---|---|
| 02:30 | PMI Manufacturing | Oct | |
| 02:30 | ANZ Jobs Advertisements | Oct | |
| 02:30 | Building Approvals | Sep | |
| 03:45 | Markit Final Manufacturing PMI | Oct | |
| 07:30 | Commodity Prices | Oct | |
| 09:00 | Retail Sales | Sep | |
| 09:30 | Retail Sales | Sep | |
| 10:15 | PMI Manufacturing | Oct | |
| 10:30 | Procure PMI Index | Oct |
