Mr. Smith, who owns an apartment and no other real property, sustained a $30,000 operational loss for the last tax year. For income tax purposes he may
A: Deduct only $10,000 of the loss each year for the next 3 years;
B: Deduct the full amount from his ordinary income;
C: Use the loss to offset any capital gains realized;
D: Deduct only one-half of the loss from ordinary income.
Answer: C: Use the loss to offset any capital gains realized;
Business
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Activity in money markets increased significantly in the late 1970s and early 1980s because of
A) rising short-term interest rates. B) regulations that limited what banks could pay for deposits. C) both A and B of the above. D) neither A nor B of the above.
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The incidence response plan is used by organizational staff to categorize threats, determine the cause, preserve evidence, and get the systems back online
Indicate whether the statement is true or false
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