A Nonbusiness Bad Debt Can Offset an Unlimited Amount of Long-Term

question 96

True/False

A nonbusiness bad debt can offset an unlimited amount of long-term capital gain.

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Definitions:

Spina Bifida

A congenital anomaly characterized by the incomplete closure of the spine and the surrounding membranes of the spinal cord.

Digestive System

The system of organs responsible for processing food, absorbing nutrients, and eliminating waste products from the body.

Cerebral Palsy

A neurological disorder caused by a non-progressive brain injury or malformation that occurs while the child's brain is under development, affecting motor skills and muscle coordination.

Spina Bifida

A developmental anomaly involving the spine and membranes around the spinal cord not fully enclosing.