Partnership Losses That Are Not Used Because a Partner's Basis

question 36

True/False

Partnership losses that are not used because a partner's basis in the partnership interest is zero may not be carried forward and are lost by the partner.

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Definitions:

Adaptive Thermogenesis

The process by which the body adjusts its basal metabolic rate in response to changes in environment or diet to regulate temperature and energy expenditure.

Diet

The sum of food consumed by a person or organism, which can also refer to a regulated eating plan to achieve a specific health- or fitness-related goal.

Burn Fewer Calories

A reduction in the rate at which the body expends energy, typically resulting in weight gain if caloric intake remains constant.

Hyperphagia

A medical condition characterized by an excessive hunger or increased appetite.