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Related to Passive income: Active income, Portfolio Income


Diminution, reduction, depreciation, decrease in value; that which cannot be recovered.

The term loss is a comprehensive one, and relative, since it does not have a limited or absolute meaning. It has been used interchangeably with damage, deprivation, and injury.

In the law of insurance, a loss is the ascertained liability of the insurer, a decrease in value of resources, or an increase in liabilities. It refers to the monetary injury that results from the occurrence of the contingency for which the insurance was taken out.

Loss of earning capacity is an injury to an individual's ability to earn wages at a future time and may be recovered as an element of damages in a tort case.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


n. 1) the value placed on injury or damages due to an accident caused by another's negligence, a breach of contract or other wrongdoing. The amount of monetary damages can be determined in a lawsuit. 2) when expenses are greater than profits, the difference between the amount of money spend and the income. (See: damages)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

LOSS, contracts. The deprivation of something which one had, which was either advantageous, agreeable or commodious.
     2. In cases of partnership, the losses are in general borne by the partners equally, unless stipulations or circumstance's manifest a different intention. Story, Partn. Sec. 24. But it is not essential that the partners should all share the losses. They may agree, that if there shall be no profits, but a loss, that the loss shall be borne by one or more of the partners exclusively, and that the others shall, inter se, be exempted from all liabilities for losses. Colly. Partn. 11; Gow, Partn. 9; 3 M. & Wels. 357; 5 Barn. & Ald. 954 Story, Partn. Sec. 23.
     3. When a thing sold is lost by an accident, as by fire, the loss falls on the owner, res perit domino, and questions not unfrequently arise, as to whether the thing has been delivered and passed to the purchaser, or whether it remains still the property of the seller. See, on this subject, Delivery.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Since no passive income strategy is truly hands-off, make time to review your portfolios regularly to avoid risk drift and check on real estate to stay apprised of wear and tear.
If sufficient amounts of suspended passive credits accumulate, the taxpayer might consider intentionally flunking the significant participation test one year and paying net investment income tax (18) but generating passive income against which the taxpayer may take current and suspended credits.
"Private Money Lending: Learn How to Consistently Generate a Passive Income Stream" has won many book awards, which include the 2016 Axiom Business Book Awards[R].
Stephen Lee, Chief Research and Strategic Planning of Dragon Holdings AG, explains that passive income is, "income when you're not directly working for it.
Since passive losses are limited by the IRS to passive income, passive status limits your ability to maximize your losses and minimize your taxes.
(53) "Passive income" is defined in subsection 1297(b) of the U.S.
The excess of passive losses over passive income is not deductible on the decedent's final return even though (pursuant to IRC Sec.
X may use $8,000 of the suspended loss carryover allocated to this property to offset the current year income generated; however, the remaining $2,000 suspended loss may only be used to offset other passive income of X in the current year or be carried forward to 1995.
owners, however, avoidance of the PFIC rules has come via an election under Internal Revenue Code Section 953 (d)-to have the company treated as a domestic company-or via Internal Revenue Code Section 1296 (b)(2)(B), which provides that income earned in connection with the active conduct of an insurance business will not be considered as passive income for purposes of the PFIC rules.
He said Package 2, which aims to lower corporate income tax rates, Package 3 (property valuation) and Package 4 (on financial taxes and passive income) are all revenue neutral.
All income streams; active income or passive income. Active income is earned through actively working and spending time and energy in order to be rewarded for your service.
Gain or loss on the disposition of rental property is passive income or loss.

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