ABNORMAL GAIN Definition

Bookmark and Share

ABNORMAL GAIN see NORMAL LOSS.

Learn new Accounting Terms

ECONOMIC and MONETARY UNION (EMU) is the European Union's economic and monetary convergence among member countries, culminating in the introduction of a single currency, i.e. the Euro.

PASSIVE ACTIVITY is defined in the US Tax Code as one or more trades, business or rental activity that the taxpayer does not materially participate in managing or running. All income and losses from passive activities are grouped together on an income tax return and, generally, loss deductions are limited or suspended until the passive activity that generated them is disposed of in its entirety.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.