In Determining the Amount of Loss That a Taxpayer Can

question 57

True/False

In determining the amount of loss that a taxpayer can deduct from an activity, both the at-risk and passive loss limitations must be applied.

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Definitions:

Ostomy

A surgical procedure creating an opening in the body for the discharge of body wastes.

Stoma

A surgically created opening on the surface of the body which connects to the digestive or respiratory system to allow waste to leave the body.

Consistency

The degree of viscosity or thickness of a substance, or the uniformity and reliability in behavior or performance over time.

Nasogastric Tube

A flexible tube that is inserted through the nose into the stomach to deliver food and medicine or to remove stomach contents.