Any Losses That Exceed the Tax Basis of a Partner

question 80

True/False

Any losses that exceed the tax basis of a partner in their partnership interest are suspended and carried forward for 20 years.
Excess losses are carried forward indefinitely until there is sufficient basis to utilize the losses.

---

Definitions:

Arab Teenagers

Young individuals, typically aged 13-19, belonging to or originating from Arab cultures or countries.

Emotional Well-being

A state of having positive emotions, high life satisfaction, and a sense of fulfillment or purpose.

Traditional Stereotypes

Widely held but fixed and oversimplified images or ideas of particular types of people or things.

Child-rearing

The process of caring for and guiding the growth and development of a child from infancy to adulthood.