Pass-through Entity

Pass-through Entity means:
a nontaxable entity such as a partnership, limited partnership, S corporation, simple trust, estate, regulated investment company, or real estate investment trust. Generally, the income or expense is passed to the underlying owner and retains its character as, for example, ordinary income, capital gain (loss), or charitable contribution.

See also Capital Gain in the American Legal Encyclopedia and Capital Gain in the World Legal Encyclopedia.