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Updated over 8 years ago,
Passive income taxed??
Hey guys,
I have a two part question
1. Is passive income not taxed because it isn't earned income??? Or why is it tax free?
2. If you have a rental that is producing passive income. And you sell it, do you owe taxes on the passive income when you sell?
I have a friend who said that happened to them so I was wondering what is the case?
Thanks BP!