A Taxpayer Is Considered to Be a Material Participant in a Significant

question 56

True/False

A taxpayer is considered to be a material participant in a significant participation activity if he or she spends at least 400 hours in the activity.

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Definitions:

Flint Water Crisis

A public health crisis that began in 2014 when the drinking water source for the city of Flint, Michigan was contaminated with lead.

Economic Power

Economic Power represents the ability of individuals, companies, or nations to influence or control economic events, actions, and policies, often through ownership of assets, control of finance, or manipulation of markets.

Medicalization

The process by which human conditions and problems come to be defined and treated as medical conditions, and thus become subject to medical study, diagnosis, prevention, or treatment.

Mental Health Issue

Conditions that affect a person's thinking, feeling, mood, or behavior, such as depression, anxiety, bipolar disorder, or schizophrenia.