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Subject:  Re: Passive versus Active Income Date:  6/19/2012  1:17 AM
Author:  ptheland Number:  116289 of 130717

This is one of those rare occasions when I get to disagree with Peter. Well, there is the way he dresses, but I mean about taxes.

You say that as if you shredded every tie you owned the day you retired. ;-)

While rental real estate by a non-real estate professional is, by definition, passive,

That's the part of the definition I was working with.

you can still use passive losses against non-passive income up to a certain AGI level if you actively participate. That's why the software was asking and why it does matter.

And that's the rest of the definition.

It's not that I was actually wrong. (I'm often mistaken, but never wrong!) I was just incomplete. ;-)

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