Sherri Owns an Interest in a Business That Is Not

question 95

True/False

Sherri owns an interest in a business that is not a passive activity and in which she has $20,000 at risk.If the business incurs a loss from operations during the year and her share of the loss is $32,000, this loss will be fully deductible.

---

Definitions:

Data

Information, facts, or figures collected together for reference, analysis, or computation.

Start Menu

Main user interface element in Windows operating systems that provides access to programs, folders, and system settings.

Access Database

A database management platform provided by Microsoft, which combines the relational Microsoft Jet Database Engine with an intuitive graphical interface and software-development instruments.

Access Database Icon

A graphical symbol used to represent a Microsoft Access database file, typically showing the Access logo.