A Loss Must First Be Allowed Under the Passive Activity

question 33

True/False

A loss must first be allowed under the passive activity loss rules and then must pass through the at-risk rules in order to ultimately be deducted on the tax return.

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Definitions:

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Disorders caused by abnormalities in an individual's DNA, which can be hereditary or develop during a person’s lifetime.

Genetic Disorders

Medical conditions caused by abnormalities in an individual's DNA, which can be inherited or arise through mutation.

Dena Davis

An academic and bioethicist known for her work on ethics and genetics, reproductive technologies, and the concept of “genetic responsibility.”