Losses Associated with a Passive Activity Owned by an Individual

question 85

True/False

Losses associated with a passive activity owned by an individual are not deductible against active income or portfolio income in computing either the regular income tax or the AMT.

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Definitions:

Immigration Reform

The process of changing existing laws and policies to improve the management and regulation of immigration.

Civil Rights Act

Landmark legislation in the United States that outlawed discrimination based on race, color, religion, sex, or national origin, predominantly known for the 1964 act.

Discrimination

Unfair treatment of individuals or groups based on characteristics such as race, gender, age, or sexual orientation instead of individual merit.

Civil Rights Act

Legislation aimed at ending discrimination based on race, color, religion, sex, or national origin, and promoting equal rights and opportunities.