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The parents of a child who has been diagnosed with sickle cell anemia ask why their child experiences pain.What is the most likely cause of the pain?
Suspended Losses
Suspended Losses are losses from passive activities that exceed passive income, which cannot currently be deducted but can be carried forward to offset future passive income.
Net Passive Loss
The total loss from passive activities, exceeding the income from those activities, that cannot usually offset other types of income for tax purposes.
Not a Passive Activity
Activities that involve significant participation and management by the taxpayer, hence not qualifying for tax treatments as passive activities.
Business Loss
A financial state where business expenses exceed its revenue, which can affect tax liabilities.
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