Because Passive Losses Are Not Deductible in Computing Either Taxable

question 60

True/False

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

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Definitions:

Shark-Infested Waters

Used metaphorically to describe a situation full of dangers and risks, or, literally, waters that have a high population of sharks.

Death Darers

Individuals who engage in behavior that tests the extent to which they can come close to death without actually dying.

Retrospective Analysis

A study method that involves looking back at data that was collected in the past, often used to identify patterns or outcomes over time.

Suicide Notes

Messages left behind by individuals who have decided to end their own life, often explaining their reasons or expressing final thoughts.