20:49
THATS SO FUNNY
Simple English definitions for legal terms
Read a random definition: disclaimer
Definition: Portfolio income is income that is not derived in the ordinary course of a trade or business, such as interest earned on savings, dividends, royalties, capital gains, or other investment sources.
Examples:
These examples illustrate how portfolio income is earned through investments rather than through active participation in a business or trade. It is important to note that losses on passive activities cannot be used to offset net portfolio income for tax purposes.