In Order to Be Recognized and Deducted on a Tax

question 38

True/False

In order to be recognized and deducted on a tax return,a loss must first be realized.

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Definitions:

Private Industry

The segment of the economy that is operated by individuals or corporations for profit and is not directly controlled by the government.

Family and Medical Leave Act

A US federal law requiring covered employers to provide employees with job-protected and unpaid leave for qualified medical and family reasons.

Unpaid Leave

Time off from work granted by an employer without compensation to the employee.

Knowledge Sharing

The practice of exchanging information, insights, and experiences among individuals or organizations to foster learning and innovation.