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.

---

Definitions:

Fentanyl

A powerful opioid pain relief drug that is 50 to 100 times more powerful than morphine and 20 to 35 times more powerful than heroin. It is by far the painkiller most commonly linked to overdose deaths.

Synthetic Opioid

Man-made substances that mimic the effects of natural opiates, often used for pain relief but with a high potential for abuse and addiction.

Disulfiram

A medication used in the treatment of alcohol dependence that works by disrupting the metabolism of alcohol, resulting in unpleasant effects when alcohol is consumed.

Aspirin

A drug designed to alleviate pain, lower fever, diminish inflammation, and at smaller doses, help prevent the formation of blood clots.