Losses Are Generally Deductible If Incurred in Carrying on a Trade

question 44

True/False

Losses are generally deductible if incurred in carrying on a trade or business or incurred in an activity engaged in for profit.

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Definitions:

Pain Stimuli

External or internal factors that can cause the sensation of pain, triggering the body's pain response mechanisms.

Teratogens

Teratogens are substances or agents that can cause congenital anomalies or increase the incidence of malformations in the embryo or fetus upon exposure.

Congenital Anomalies

Refers to structural or functional defects that are present from birth.

Infectious Disease

An infectious disease is caused by pathogenic microorganisms, such as bacteria, viruses, parasites or fungi; diseases can be spread, directly or indirectly, from one person to another.