Because they are not material participants, the income that limited partners realize from their partnerships is treated as passive income, and can be offset with passive losses. However, there are a handful of exceptions to this rule. For example, limited partners who participate in a partnership for more than 500 hours in a year may be considered general partners.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
limited partner — see partner Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. limited partner … Law dictionary
limited partner — UK / US noun [countable] Word forms limited partner : singular limited partner plural limited partners business a partner in a business who is not involved in managing the business and has limited liability … English dictionary
limited partner — A partner whose liability is limited to his or her investment in the partnership. A partnership in which one or more (but not all) of the partners are limited partners is called a limited partnership and is governed by the Limited Partnership Act … Accounting dictionary
limited partner — noun : a partner whose liability to creditors of the partnership is usually limited to the amount of capital he has contributed to the partnership providing he has not held himself out to the public as a general partner and has complied with… … Useful english dictionary
limited partner — noun a partner in a company or venture whose liability towards its debts is legally limited to the extent of their investment. Derivatives limited partnership noun … English new terms dictionary
Limited partner — A partner who has limited legal liability for the obligations of the partnership. The New York Times Financial Glossary … Financial and business terms
limited partner — A partner who has limited legal liability for the obligations of the partnership. Bloomberg Financial Dictionary … Financial and business terms
limited partner — passive partner who has limited responsibility for the partnership s debts … English contemporary dictionary
limited partner — noun Date: 1907 a partner in a venture who has no management authority and whose liability is restricted to the amount of his or her investment compare general partner … New Collegiate Dictionary
limited partner. — See special partner. [1905 10] * * * … Universalium