What is passive income?
Passive income is income that requires little to no effort to earn and maintain. It is called progressive passive income when the earner expends little effort to grow the income. Examples of passive income include rental income and any business activities in which the earner does not materially participate. Source: Wikipedia
Like other forms of income, passive income is taxable and you should check how it is treated in your state or country.
Examples of passive income include:
Why is passive income good?