California Revenue and Taxation Code

§ 24692

RTC § 24692 Effective Jul 31, 2019Div. 2 · Part 11 · Ch. 13 · Art. 4

(a)Section 469 of the Internal Revenue Code, relating to passive activity losses and credits limited, shall apply, except as otherwise provided.

(b)Section 469(c)(7) of the Internal Revenue Code, relating to special rules for taxpayers in real property business, shall not apply.

(c)Section 469(d)(2) of the Internal Revenue Code, relating to passive activity credits, is modified to refer to the following credits:

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Legislative history

Amended by Stats. 2019, Ch. 159, Sec. 27. (AB 101) Effective July 31, 2019.