What Was the Third-Century Crisis? Explain How Rome Could Descend

question 55

Essay

What was the Third-Century Crisis? Explain how Rome could descend from peace and prosperity to a century of troubles that threatened the very existence of the empire.

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Definitions:

Deduct

To subtract or take away from the gross amount; in taxation, to lower taxable income by subtracting allowable deductions.

At-risk Amount

The investment in money or other property at risk in an activity, determining the deductible loss limit.

Passive Loss Rules

Tax provisions limiting the amount of loss investors can claim from passive activities, such as rental properties, to offset other income.

Income

Funds acquired regularly from labor or investment returns.