If a Business Debt Previously Deducted as Partially Worthless Becomes

question 106

True/False

If a business debt previously deducted as partially worthless becomes totally worthless this year, only the amount not previously deducted can be deducted this year.

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Definitions:

Persecutions

Systematic mistreatment of an individual or group by another group, often due to political, religious, or ethnic differences.

Lynchings

Extrajudicial killings, usually by hanging, carried out by a mob or group of people without legal authority, historically associated with the suppression of black people in the United States.

Federal Surveyors

Government-employed experts who map and measure land, defining boundaries and assessing terrains for various purposes, including land development and conservation.

Rocky Mountains

A major mountain range in western North America, extending from Canada through the United States, known for its breathtaking landscapes and diverse ecosystems.