If Personal Casualty Losses (After Deducting the $100 Floor) Exceed

question 32

True/False

If personal casualty losses (after deducting the $100 floor) exceed personal casualty gains in 2012, the itemized deduction is always equal to the losses, to the extent they exceed 10% of adjusted gross income.

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Definitions:

Skewed Distribution

A statistical term for a distribution where the bulk of values are located on one side of the mean, resulting in a lack of symmetry.

Degree Of Variation

Degree Of Variation refers to the extent to which values of a particular variable or trait differ from each other in a set of data or population.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, often used in statistics.

Distribution Of Scores

Refers to the way in which scores are spread out or distributed across a range in a dataset.