IRS Cannot Group Nonpassive Activities to Trigger Loss Limitation

Taxpayers are often surprised to learn that some losses may not be netted against gains in the current tax year. This is often due to the passive activity loss and material participation rules. The IRS National Office addressed these rules in TAM 201634022, in the context of whether two businesses should be grouped together and[...]

The post IRS Cannot Group Nonpassive Activities to Trigger Loss Limitation appeared first on Houston Tax Attorney: Texas Lawyer.

material participationpalpassive activity lossTax BlogTax Law Blog

Best-Tax-Attorney-In