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Do gains from the sale of real or tangible personal property qualify as passive investment income?

April 26, 2017gains income Investment passive Property qualify sale Tangible

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Do gains from the sale of real or tangible personal property qualify as passive investment income?

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No. The definition in Tenn. Code Ann. Section 67-4-2008(a)(11)(B)(ii) of “passive investment income” does not include gains from the sale or exchange of any asset other than “stock or securities.