Losses from Passive Activities That Cannot Be Deducted Currently Are

question 2

True/False

Losses from passive activities that cannot be deducted currently are carried over for up to 5 subsequent years.

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Definitions:

Query Design Grid

A visual tool in database software that facilitates the creation and modification of queries by allowing users to graphically arrange tables, fields, and conditions.

Foreign Key Field

Refers to a column in a database table that creates a link between two tables, ensuring referential integrity.

One-To-Many Relationship

A type of database relationship where a single record in one table is associated with multiple records in another table.

Importing

The process of bringing data from external sources into a software application or database system for further use or analysis.