Any Deduction Taken in a Prior Year That Is Recovered

question 133

True/False

Any deduction taken in a prior year that is recovered in a subsequent year is reported as income in the year it is recovered, to the extent that a tax benefit was received from the deduction.

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Definitions:

Paralegal Educational Program

A course of study designed to train individuals to assist professionals, particularly attorneys, in legal work.

ABA-Accredited

Refers to law schools that have received accreditation from the American Bar Association, indicating they meet certain standards of education.

Judged

Evaluated or decided by a legal authority, such as a judge or a court.

Actions

Measures or steps taken in order to achieve a particular end.