IT Is Enabling More and More People to Communicate, Collaborate

question 33

True/False

IT is enabling more and more people to communicate, collaborate, and compete, thereby leveling the digital playing field.

---

Definitions:

At-risk Amount

The investment in money or other property at risk in an activity, determining the deductible loss limit.

Passive Loss Rules

Tax provisions limiting the amount of loss investors can claim from passive activities, such as rental properties, to offset other income.

Income

Funds acquired regularly from labor or investment returns.

At-risk Amount

The maximum value taxpayers are at risk of losing in an investment, affecting the deductible loss limit in tax declarations.