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October 2016 » How the Loss Limitation Rules Impact...
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Ray A. Knight, JD, CPA, PFS, CGMA, and Lee G. Knight, PhD
In BriefTaxpayers generally think of a business loss as an immediate tax deduction, but the tax code is not quite so simple. Individual circumstances—such as how much is at risk in an activity, whether it is passive, and whether it entered into with a profit motive—can limit the deduction available. The authors examine various scenarios where deductions for business losses can be curtailed, delayed, or even disallowed.
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