An activity of a taxpayer can be passive.Logical formLearned from2 sentences. Income may remain passive with respect to persons.Logical formLearned from2 sentences. (Asset rules) can be passive.Logical formLearned from2 sentences. Earnings may be excluded from passive income.Logical formLearned from2 sentences. Exceptions can be to passive income.Logical formLearned from2 sentences. A (limitation loss) can be with respect to passive income.Logical formLearned from2 sentences. Losses may be related to passive income.Logical formLearned from2 sentences. Category can be for passive income.Logical formLearned from2 sentences. An activity can be passive to an owner.Logical formLearned from2 sentences. (Loss schedules) can be passive.Logical formLearned from2 sentences. A (tax equivalent) of passive income may permit deductibility of (activity credits).Logical formLearned from2 sentences. An (activity credit) can be deductible to an extent of a (tax equivalent) of passive income.Logical formLearned from2 sentences. Losses may exceed passive income.Logical formLearned from2 sentences. (Activity credit limitations) can be passive.Logical formLearned from2 sentences. Income may be characterised as passive income.Logical formLearned from2 sentences.