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passive definition
adj. referring to being inactive. A "passive trustee" is one who has no responsibilities
other than to hold title or wait for an event which would activate the trust. "Passive
income" for tax purposes includes any income in which there is no effort or active
management, and is treated differently for some purposes, such as Social Security
income limitations. It may include stock dividends, trust profits, rents with no
management involvement and interest on bank accounts.
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