If a Business Debt Previously Deducted as Partially Worthless Becomes

question 106

True/False

If a business debt previously deducted as partially worthless becomes totally worthless this year, only the amount not previously deducted can be deducted this year.

---

Definitions:

Massachusetts Assembly

A legislative body in the state of Massachusetts with a history dating back to colonial times, responsible for creating state laws.

Events of 1767

The events of 1767 refer to specific historical occurrences within that year, notable for various political, social, and cultural developments globally.

Dissolution

the process of dissolving or disintegrating, often used in the context of the breakup of organizations, governments, or marriages.

Coercive Acts

A series of British measures passed in 1774 aimed to punish the Massachusetts colonists for the Boston Tea Party.