Publication: Nassau Lawyer

Date: December 10, 2015

Author: Moira A. Jabir

Practice Area: Trusts & Estates

Section 469 of the Internal Revenue Code was designed to stop taxpayers, including trusts and estates, from, taking losses for passive activity against non-passive income like investment income and salary. Passive activity occurs when the taxpayer does not "materially participate" in a trade, business, or rental activity, except in the case of a real estate professional.

Material Participation In The Context Of Trusts & Estates

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.