In 2018, Personal Casualty Gains Are Allowed to Offset Personal

question 69

True/False

In 2018, personal casualty gains are allowed to offset personal casualty losses. If an excess casualty loss results, it is not deductible (unless attributable to a Federally-declared disaster).

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Definitions:

Overestimate

Assessing something as more significant, valuable, or numerous than it actually is.

Self-justification

A psychological process where individuals defend their actions and thoughts when they are challenged, to preserve their self-esteem.

Psychotherapeutic Treatment

A form of therapy aimed at treating mental health issues by talking with a psychiatrist, psychologist, or other mental health provider.

Token Economy

A behavioral management system in which individuals earn tokens for exhibiting desirable behavior, which can be exchanged for rewards.