Examlex
Which of the following did not occur during the Industrial Revolution?
Adjustments
Deductions from gross income that are made before calculating taxable income, leading to the calculation of the Adjusted Gross Income.
AMTI
Alternative Minimum Taxable Income, a measure used to ensure that individuals and corporations pay at least a minimum amount of tax.
Passive Activity
Economic endeavors in which a person is not actively involved on a regular, continuous, or substantial basis, often related to investment income.
Passive Losses
Financial losses occurring from income-generating activities in which the taxpayer does not materially participate, often subject to specific tax rules.
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