Tax question - K-1

A

avacohen1000 12 years ago

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If one is shareholder of a small S Corp. and not at all involved in the business, then:

1. Is the income that is on form 1120S ( k-1) considered passive income?

1. If so, can it be off set against other passive losses?

Would someone please be kind enough to let me know.

Thanks,

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