For Married Taxpayers Filing Separately, Excess Business Losses Are Defined

question 103

True/False

For married taxpayers filing separately, excess business losses are defined as aggregate business deductions over the sum of aggregate business gross income or gain of the taxpayer plus $255,000.

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Definitions:

Prognosis

A medical term for predicting the likely outcome of an illness or disease.

Thermometer

An instrument used to measure temperature.

Triage

The method of establishing the treatment priority for patients according to how severe their condition is.

Malignant

Refers to cells or tumors that are cancerous and have the potential to spread to other parts of the body.