1 A pacemaker is a small device that's placed in the chest or abdomen to help control abnormal heart rhythms. 2  This device uses low-energy electrical pulses to prompt the heart to beat at a normal rate. 3  Pacemakers are used to treat arrhythmias.
DEFINITION of 'Material Participation Test'. A set of criteria that determines whether a taxpayer is a material participant in a business venture.The material participation test will determine whether business income received by the taxpayer is active or passive.According to the IRS, if the taxpayer participates in a business activity on a regular, continuous and substantial basis, then the taxpayer materially participates in the business.Next Up.EFINITION of 'Material Participation Test'. A set of criteria that determines whether a taxpayer is a material participant in a business venture.
Generally, the passive activity credit for the tax year is disallowed. The passive activity credit is the amount by which the sum of all your credits subject to the passive activity rules exceed your regular tax liability allocable to all passive activities for the tax year.Credits that are included in figuring the general business credit are subject to the passive activity rules.f your gross income from all significant participation passive activities is more than your deductions from those activities, a part of your net income from each significant participation passive activity is treated as nonpassive income.