An Individual Taxpayer Who Does Not Itemize Deductions Uses the Standard

question 48

True/False

An individual taxpayer who does not itemize deductions uses the standard deduction to compute the excess of nonbusiness deductions over the sum of nonbusiness income and net nonbusiness capital gains for purposes of computing net operating loss.

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Definitions:

Symbolize

To represent or stand for something else, especially through the use of symbols or imagery.

Negation

A compound statement whose truth value is the opposite truth value of its component statement.

Disjunction

A logical operation that results in true if at least one of its premises is true.

Conditional

A logical statement that has the form "If A then B," implying B is true if A is true.