A Loss in Current E & P Is Treated as Occurring

question 56

True/False

A loss in current E & P is treated as occurring ratably during the year, unless the taxpayer can show otherwise.

---

Definitions:

Sexual Act

Any activity that involves sexual contact or behavior intended to arouse or satisfy sexual desires.

Depersonalization-derealization Disorder

A dissociative disorder marked by periods of feeling disconnected or estranged from one's body and thoughts (depersonalization) or from one's surroundings (derealization).

Dissociative Identity Disorder

A disorder in which a person develops two or more distinct personalities. Previously known as multiple personality disorder.

Dissociative Amnesia

A mental health condition characterized by gaps in memory of personal information, often due to trauma.