Fun_People Archive
15 Apr
TTsOTD (Tax Tips O' The Day)

Date: Mon, 15 Apr 96 17:48:31 -0700
From: Peter Langston <psl>
To: Fun_People
Subject: TTsOTD (Tax Tips O' The Day)


 Activity Loss Limitation ...
"Passive activity income does not include the following: Income for an
activity that is not a passive activity."

 From the IRS training manual for tax auditors ...
"You will find it a distinct help ... if you know and look as if you know
what you are doing."

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