Examlex
Which of the following statements about cocaine use during pregnancy is TRUE?
Passive Activity
Economic activities in which the taxpayer does not materially participate, often associated with rental properties or certain business investments.
Ordinary Loss
A loss incurred in the normal operation of a business, which can be used to reduce other taxable income on an owner's tax return.
Itemized Deductions
Expenses that taxpayers can subtract from their taxable income, detailed on Schedule A of the tax return.
AGI
Adjusted Gross Income, a measure of income calculated from your gross income and used to determine how much of your income is taxable.
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