Federal Income Taxation of Passive Activities.

• Author: Fink, Philip R.
• Position: Brief article - Book review

Federal Income Taxation of Passive Activities, by Michael Carnevale, Deborah Harrington and Amy Sutton (WG&L, 2006), is a valuable reference that contains quick answers on how to minimize the tax consequences of the passive activity loss rules. It also addresses the most effective way to use passive activity credits, explains how to identify separate activities and defines material participation. Additionally, it covers the difficult topics of rental activities and rental real estate activities. There is significant...