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Because Passive Losses Are Not Deductible in Computing Either Taxable

question 53

True/False

Because passive losses are not deductible in computing either taxable income or AMTI, no AMT adjustment for passive losses is required.


Definitions:

Chyme

The semi-fluid mass of partly digested food that moves from the stomach to the small intestine.

Enamel

The hard, protective outer layer of the tooth, made primarily of minerals and the hardest material in the human body.

Cementum

A specialized calcified substance covering the root of a tooth.

Crown

The part of a tooth that is visible above the gum line, or the top portion of a dental implant that replaces the natural tooth.

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