Currently, losses from passive activities can only be deducted to the extent of passive activity income (with some exceptions). A proposed bill called Partnerships to Advance Revolutionary Technology and Novel Entrepreneurial Research (PARTNER) Act (H.R. 2297), would create an exception to this rule for investments in small business pass-throughs engaged in this type of work.
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
Footer
