one of three dimensions of the supply chain network design; the number of tiers in the supply chain, representing the total number of levels through which goods and services must pass from the earliest to end stages of the chain
A passive activity loss for the tax year is the excess of your passive activity deductions over your passive activity gross income. What are the passive activity limitations? Your passive activity losses are limited to the amount of your passive activity income for the taxable year.
The definition of the second type of PSC is a modifica-. tion of the first definition described above from section 269A. Falling. within this definition would subject the corporation to limits on the. deductibility of passive losses under section 469(a) and tax shelter farm. activity losses under section 58(a)(3).