Investment Interest Expense Which Is Disallowed Because It Exceeds the Taxpayer's

question 32

True/False

Investment interest expense which is disallowed because it exceeds the taxpayer's net investment income may be carried over and treated as incurred in subsequent years.

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Definitions:

Necessary

Indispensable or essential to achieve a certain result or fulfil a condition.

Imperative

Referring to something of vital importance or crucial necessity.

Results Section

The part of a report or research paper where findings from conducted experiments or studies are presented and elaborated upon.

Interpret

To interpret is to explain or understand the meaning of something, such as a piece of art, a set of data, or an event.