Because Passive Losses Are Not Deductible in Computing Either Taxable

question 60

True/False

Because passive losses are not deductible in computing either taxable income or AMTI, no adjustment for passive losses is required for AMT purposes.

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Definitions:

Milieu Therapy

A therapeutic approach that utilizes the environment and community within a psychiatric hospital or residential facility to promote healing and change.

Antipsychotic Drugs

Medications used to manage psychosis, including disorders like schizophrenia, by affecting neurotransmitter levels in the brain.

Antihistamines

Medications used to relieve or prevent the symptoms of allergies by blocking the action of histamine.

Analgesics

Medicinal drugs used to relieve pain without causing anesthesia; also known as painkillers.