passive investment income

(iii)If the S corporation meets the requirements offor the taxable year, the term “passive investment income” shall not include gross receipts for the taxable year which are derived directly from the active and regular conduct of a lending or finance business (as defined in section 542(d)(1)).

Source

26 USC § 1362(d)(3)(C)(iii)


Scoping language

None: Default is title Scope
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