Examlex

Solved

If a Partner's Share of Partnership Losses Exceeds Basis, the Excess

question 32

True/False

If a partner's share of partnership losses exceeds basis, the excess is not deductible in the current year and cannot be carried forward for deduction in the future.


Definitions:

Cultures

The customs, arts, social institutions, and achievements of a particular nation, people, or other social group.

Age

The length of time that a person or organism has been alive or a thing has existed.

Gender

The range of characteristics pertaining to, and differentiating between, masculinity and femininity, including social roles, norms, and identity.

Optimistic Explanatory Style

The tendency to attribute positive events to personal, permanent, and pervasive causes, and negative events to external, temporary, and specific ones.

Related Questions